California has traditionally kept college affordable with a combination of low tuition--particularly at its community colleges-- and generous financial aid. However, in an era of constrained resources, revenue volatility, and increasing economic inequality, a resilient, effective, and efficient financial aid system is increasingly important. The cost of attending college in California remains a significant hurdle to educational attainment for many Californians. Over the past decade, tuition at public universities and colleges has held steady, but other costs associated with attending college--especially housing--have increased. In fact, for a majority of students attending public postsecondary institutions in California, the combined cost of housing, fees, books, and transportation is greater than tuition. To pay for college costs that are not covered by financial aid, many students take out government and/or private educational loans. By most measures, Californians carry less educational loan debt than students in other states. This is partly because Californians are more likely than those in other states to start at a community college, where tuition is among the lowest in the nation and students rarely take out federal loans. Thanks to generous state aid that has grown with tuition, California has kept college affordable for many students. However, the state, institutions, and students can take--and are already taking--a number of steps to improve college access and success by making college more affordable for more students--particularly those who come from historically underrepresented groups. Expanding financial aid to cover more costs could be especially helpful in improving completion and transfer at community colleges, which serve a large share of lower-income students as well as many older, first-generation, and underrepresented students of color. [This repot was written with research support from Idalys Perez.]