At the White House Summit on Community Colleges in October 2010, President Obama announced the $1 million Aspen Prize for Community College Excellence. The purpose of the Aspen Prize is to recognize community colleges with outstanding academic and workforce outcomes in both absolute performance and improvements over time and to stimulate innovation, as well as create new benchmarks for measuring progress. This roundtable will provide an overview of the goals of the Prize and an update on the process and timetable for the first award announcement in Fall 2011.