College affordability is a pressing issue that is made more urgent by rising costs, increasing enrollment, and changing student demographics. People entering the labor market today are finding it increasingly difficult to secure a good job without first pursuing some postsecondary education or training. As a result, college enrollments have swelled, and traditionally underrepresented groups--such as people of color and low-income, parenting, working, first-generation, or immigrant students--are increasingly pursuing postsecondary education. Public policies, however, have failed to keep pace with rising college costs and changing student needs. As a result, an increasing number of students are left with unmet financial need. This report analyzes new U.S. Department of Education (ED) data from academic year 2015-16 and finds that nearly three in four students experience unmet need, and that unmet need among college students has risen by 23 percent since academic year 2011-12. Unmet need is a significant barrier to student enrollment and completion, and the lack of public policies to address it poses a significant challenge to improving access and advancing equity within postsecondary education.