Federal aid is seen as not only essential to many college students but also as a mainstay of U.S. economic growth and social progress. The reauthorization of the Higher Education Act represents the best chance for reform, and Congress needs to do more than ratify existing programs. (MLW)

The current system of financial aid is reviewed. It is noted that higher education is now more accessible to more people, but at a great cost in terms of both money and values, since the middle class is reluctant to make financial sacrifices for its children. Specific grant and loan programs are reported. (LBH)