The present invention relates to a stable aqueous pigment dispersion including: an aqueous medium, pigment particles, and from 0.1% to 15%, by weight based on the weight of pigment, of a certain first water-soluble polymer; and 2) a certain second water-soluble polymer; wherein the dispersant comprises a proportion of the first polymer to the second polymer of from 0.1:1 to 10:1 on a solids basis, and the first polymer and the second polymer are miscible in those proportions; and wherein the dispersant is substantially free of structural units of phosphorus acid monomers and their salts. The invention also relates to a method for forming the stable aqueous dispersion and a dry coating formed from the aqueous dispersion. The stable aqueous dispersion is useful, inter alia, for forming certain composite particles.