It feels like an ocean's worth of ink has been dedicated to the rising cost of college. From press coverage to the latest public opinion polls to the drumbeat of proposals for "free college," you could be forgiven for assuming that the only real problem with American higher education is the price tag. And cost is, indeed, a real issue. But it is hardly the only one. At least as pressing is the reality that only about half of students who begin college actually complete their degree. This yawning gap between those who enroll in higher education and those who graduate has been persistent, even as our economy shifts and increasingly makes a credential beyond high school a necessity, rather than a luxury, in the workforce. It is becoming increasingly difficult--and expensive--to brush this college completion problem under the rug. As Congress looks to reauthorize the Higher Education Act--through which taxpayers shell out about $130 billion per year in grants and loans--the completion problem deserves to be a meaningful part of the deliberations. At the same time, a single-minded focus on college completion can be unhelpful for students and taxpayers alike. Reforms intended to boost college completion need to be approached with caution, designed with attention to potential consequences, and informed by due regard for the full range of outcomes that matter to taxpayers and students. Given both the importance of the problem and the need to tackle it in thoughtful, constructive ways, education scholars at the American Enterprise Institute and Third Way have recruited a talented cadre of researchers to publish this series of in-depth reports on the current college completion landscape, the major drivers of graduation rates, and the best levers for increasing completion both at individual institutions and system-wide--without spurring undesirable consequences in the process. This report contains the following chapters: (1) The College Completion Landscape: Trends, Challenges, and Why It Matters (Bridget Terry Long); (2) The Policy Imperative: Policy Tools Should Create Incentives for College Completion (Sarah Turner); (3) Completion Reforms That Work: How Leading Colleges Are Improving the Attainment of High-Value Degrees (Mark Schneider and Kim Clark); (4) What Matters Most for College Completion? Academic Preparation Is a Key Predictor of Success (Matthew M. Chingos); and (5) Leveraging Psychological Factors: A Necessary Component to Improving Student Outcomes (Mesmin Destin). [This work was co-produced by the Third Way Institute.]