California needs 2.3 million more people with postsecondary credentials by 2025, but that goal cannot be achieved at current college completion rates. Overall, only 32 percent of California college students complete credentials on time. Low-income students are much less likely than higher income students to enroll in or complete college, and these income gaps have grown in recent decades. At community colleges, which enroll the majority of the state's low-income students, African-American and Latino students are much less likely than white students to complete credentials. The state must do better to fulfill its promise of equitable opportunity for all students. Providing more than $1.5 billion in need-based financial aid to California's college students, the Cal Grant program is a substantial state investment in college access and success. Still, there is room to improve Cal Grants. Awards for many qualifying students have been stagnant for decades, and many of California's low-income college students are left out of the program entirely. Among students who do receive Cal Grants, those who are underrepresented in higher education--African Americans, Latinos, Native Americans, and Pacific Islanders--receive smaller grants than white students. The same is true of the neediest students--their grants are smaller than those of better-off peers. It is clear we need to enable more students to graduate, overcome widening income gaps in college enrollment and completion, and eliminate racial and ethnic disparities in educational attainment. Improving the Cal Grant program so that more students are served, and served well, is critical to making progress on these three interrelated fronts.