The purpose of this research brief is to summarize the methodology and findings of the Midwestern Higher Education Compact (MHEC) report, "The Effect of State Appropriations on College Graduation Rates of Diverse Students" (see ED623525), which examines whether changes in state funding for public four-year institutions can be expected to affect the six-year completion rates of Black, Latinx, and White students as well as the institution's total cohort graduation rate for all students. The brief then presents results from a state simulation to show the expected effect of a 10% increase in funding on the number of first-time, full-time completers by race and ethnicity within each state.