In this brief, the authors have corralled existing research to make the point that while on average the return to college is highly positive, there is a considerable spread in the value of going to college. A bachelor's degree is not a smart investment for every student in every circumstance. The authors have outlined three important steps policymakers can take to make sure every person does make a smart investment in their choice of postsecondary education: (1) More information must be provided in a comprehensible manner; (2) The federal government should lead the way on performance-based scholarships to incentivize college attendance and persistence; and (3) There should be more good alternatives to a traditional academic path, including career and technical education and apprenticeships.