The American higher education system is the finest in the world. Students from across the globe continue to flock to American universities, while the competition among U.S. students for slots at these elite schools is tougher than ever. There are cracks in the fiscal foundations of higher education, however, and they are growing wider. The costs of postsecondary education are now higher in the United States than anywhere else in the world, and they are mounting beyond the reach of average American families. A triple whammy exists: (1) out-of-control college costs; (2) record levels of student debt; and (3) declining real earnings for college graduates that have made the higher education financing system unsustainable. Fortunately, there is a two-part policy response that can address all three of these imperatives: the "Three-Year Degree" and the "Simplified Higher Education Grant." This policy brief explains these programs and how they can not only save students money, but will increase access to America's leading colleges and universities.