This monograph investigates and discusses the various approaches of innovative financing initiatives in higher education which have developed over the last few years. The 16 chapters and authors are as follows: "Stresses in the Student Financial Aid System" (Martin Kramer); "Evolution and Prospects of Financing Alternatives for Higher Education" (Terry W. Hartle); "An Inventory of Innovative Financing Plans to Help Pay For Higher Education" (Jamie P. Merisotis); "Developing a National College Savings Agenda" (Theodore L. Bracken); "Prepaying for Higher Education: Why It Works" (Richard E. Anderson); "Issues of Equity in College Savings" (Sandy Baum); "New Varieties of Student Loans" (Martin Kramer); "Philanthropy, the Public School, and the University" (Robert H. Koff); "New York State's Liberty Scholarship Program" (Peter J. Keitel); "Corporate Support for Scholarships--A Tale of Two Cities" (John M. Cronin); "Public Service and Student Financial Aid" (Kathryn Mohrman; Susan Stroud); "New Ways of Paying for College: Should the Federal Government Help?" (Janet S. Hansen; Lawrence E. Gladieux); "The States' Role in Financing Higher Education: A Perspective" (Aims C. McGuinness, Jr.); "New Ways to Finance College Costs: An Institutional Budget Officer's Perspective" (Timothy R. Warner); "The Role of Employers in Financing Higher Education" (Ernest A. Lynton); and "The Role of Philanthropy in Higher Education" (Robert L. Payton). Chapter Notes are included. (LPT)