In spring 2020, New America and the State Higher Education Executive Officers Association (SHEEO) partnered on a year-long research project to understand the effect of the confluence of the pandemic, economic crisis, and racial reckoning on America's colleges and universities. We interviewed over 100 college leaders from across higher education sectors, students, and higher education membership organizations to hear, in their own voices, about the difficulties faced by campus communities. As we consider the near- and longer-term future of colleges and universities and the students they serve, New America and SHEEO have reflected on what we have learned over the past year. We believe there is an important role for federal and state governments and for institutions to ensure a robust recovery of America's higher education system, which will be imperative to the growth of the economy. This report details several recommendations for federal, state, and institutional policymakers as we move from crisis to recovery.