A college degree is increasingly necessary in today's economy. Federal policy makers have attempted to encourage college attendance and degree attainment through financial aid provided to students. However, this aid has generally been unsuccessful in raising degree attainment rates, which remain quite low and have not risen for the past 20 years. A new policy proposal by David J. Deming of Harvard University argues that increasing degree attainment rates will require commensurate improvements in the quality of education and academic support received by students. This policy brief summarizes Deming's proposal for a federal matching grant to support such improvements.