Universal approaches have not sufficiently improved higher education outcomes for Black, Latino, and Indigenous students, and students from low-income backgrounds because these broad interventions are not targeted toward specific populations. Student voices and interests must be centered in policy and practice, and higher education leaders and institutions that work with and on behalf of Black, Latino, or Indigenous students are well positioned to identify the programs, partnerships, and investments that will most benefit those students. Having clear alignment on the high impact policy and programmatic priorities of these higher education leaders helps funders, policymakers, and technical assistance providers make investments that are more racially equitable. The Education Trust convened key leaders from a number of intermediary higher education organizations to discuss policy and programmatic priorities that would support the equitable distribution and implementation of public and private higher education funding. Panelists and participants repeatedly highlighted five priorities that will help to ensure equity in these higher education investments: (1) Put student voices first; (2) Rely on existing experts and invest in building expertise; (3) Build cultural competence and show humility toward students, their communities, and the organizations that represent them; (4) Interrogate data and reevaluate underlying assumptions and metrics; and (5) Focus on flexible dollars that institutions can use to address students' greatest needs.