Amid rising college tuition, low college-completion rates, and ever-changing employer demands for specialized skills, new forms of postsecondary education are gaining prominence. These "nontraditional" programs (such as coding boot camps) are typically short in duration and designed to prepare students for a particular occupation or career--ideally, at costs lower than at a traditional college. Students in many of these programs are not eligible to receive federal loans or Pell grants. While jobs vary in pay, stability, and perceived social value, any educational program receiving federal aid money should prepare students for employment that enables them to afford monthly payments on student loans. High-quality postsecondary education imparts critical skills and knowledge but ultimately must provide students value for their time and money. There are many ways to measure the value and quality of postsecondary educational programs to determine their eligibility for federal student aid. But as this report explains, the process by which eligibility is currently determined--by the U.S. Department of Education, a federally recognized accreditor, and the state or states in which the institution operates--largely limits the pool of educational programs to traditional colleges and is poorly suited for nontraditional educational programs and models. New frameworks for evaluating nontraditional educational models are needed, and they need to be focused on measuring student outcomes. This focus will ensure that students and taxpayers benefit from new models while allowing new programs to demonstrate their efficacy and become sustainable.