Purpose: America's College Promise (ACP) is a legislative initiative introduced by President Obama to increase access to higher education, to build the economy, and to support his earlier American Graduation Initiative. This legislation has the potential to settle among the ranks of the most influential federal higher education aid and access…

This report discusses the current state of higher education, with a brief high-level overview of the market and a more detailed discussion and analysis of the financial aid system. It also discusses the important changes President Obama has made to make higher education more accessible and affordable. The key findings are: (1) The economic returns…

The three great federal policy initiatives concerning higher education, the land-grant movement of the 1860s, the World War II-era decision to rely on universities for basic and applied research, and the GI Bill of 1944, have affected development of the American system of higher education more than any others. (MSE)