Doing Better for More Students
Between July 2012 and February 2013, HCM Strategists convened a Technical Panel of independent experts to take a hard look at the federal student aid system—what’s working, what isn’t, and what needs to change. This panel brought together leading thinkers in higher education, public finance, and federal policy for an intensive eight-month review of the available research, trends in aid participation, and outcomes data. Their charge: to craft a cohesive set of policy options that places student success at the center of federal financial aid while ensuring the long-term fiscal sustainability of these critical programs.
The result of that collaboration is Doing Better for More Students, a report that synthesizes the panel’s extensive deliberations and offers a forward-thinking vision for reform. The report draws on the analysis, experience, and perspectives of a diverse group of contributors, including:
Dr. Steven E. Brooks, North Carolina State Education Assistance Authority
Kevin Carey, New America Foundation
Kristin D. Conklin (Chair), HCM Strategists
Jason Delisle, Federal Education Budget Project, New America Foundation
Dr. Tom Kane, Harvard University
Andrew Kelly, American Enterprise Institute
Daniel Madzelan, retired, U.S. Department of Education
Dr. Kim Rueben, Urban Institute and Urban-Brookings Tax Policy Center
Supported by a grant from the Bill & Melinda Gates Foundation, the project was led by HCM Strategists. Key contributions came from HCM team members Lauren Davies, Terrell Halaska, Dr. Kim Hunter Reed, and Dr. Nate Johnson, along with data and analysis provided by several respected organizations and individuals across the policy and research community.
The policy options presented in this report reflect and build upon the guiding principles of The American Dream 2.0, a prior effort in which this Technical Panel also participated. That initiative called for a new, student-centered approach to financial aid grounded in the following principles:
Help more students not only enroll in college but complete a credential with meaningful value.
Prioritize federal resources for the students who need them most.
Promote innovation and evaluate strategies to improve affordability and relevance—especially for today’s increasingly diverse and adult student population.
Simplify the aid process to give students and families better information about college costs, repayment obligations, and career outcomes.
Ensure shared accountability among institutions, states, and students for improving completion.
Doing Better for More Students offers a timely and pragmatic set of ideas to modernize financial aid, with an eye toward improving outcomes and equity. It is not the final word, but a vital contribution to the national conversation about how to realign federal support for students with the needs of a rapidly evolving higher education landscape.
Read the results of their collaboration—and explore how smarter federal financial aid policies can better serve students, families, and the nation’s future.
