The association of State Higher Education Executive Officers (SHEEO) has released its annual State Higher Education Finance (SHEF) report, which provides a comprehensive review of state and local funding, tuition revenue, and enrollment trends for public higher education. This is the fourth SHEF report since the 2007-2008 academic year when state and local support for higher education was $88.8 billion, enrollment in public institutions reached 10.3 million full-time-equivalent students, and the national economy entered a recession. In 2012, the effects of the recession continue with total state and local support at $81.2 billion–down 7 percent from 2011. In 2012, enrollment declined slightly from the prior year to 11.5 million full-time equivalent students but still 1.2 million more FTE students (12.4 percent) enrolled than in 2008. Although enrollment stabilized in 2012, the reduction in state and local support combined with an increase in inflation contributed to a 9 percent decrease in state and local support per student in constant dollars from 2011. Per student support in 2012 is $5,896, the lowest level in the 25 years shown in the SHEF report."