This article addresses the broad-based reform movement led by state and federal policy makers and designed to increase dramatically the number of students graduating from the nation's colleges and universities. This movement--known as "the completion agenda"--aims to collect more and better data about students' educational progress toward degrees, to enact new policies that incentivize increased graduation rates and improve the efficiency of degree production, and to tie funding to increased completion rates. Unfortunately, the ensuing completion reform movement was launched in the midst of a severe economic downturn and after years of demographic shifts and educational shortfalls at both the K-12 and higher education levels. Elected officials at the state level also are faced with increasingly tough budget choices, and thus the completion agenda has morphed into a more-completion-at-less-cost agenda. This movement is poised to have a profound effect on how colleges and universities throughout the country operate. Unfortunately, it has become too narrowly focused; whereas society and the economy need "more and "better"," policy leaders are trying to deliver "more and "cheaper"."