With increasingly widespread calls to raise educational attainment levels without substantially growing public investment in higher education, policymakers and others have devoted growing attention to the role of financial aid programs in providing access to, promoting affordability for, and incentivizing success in college. Given relative levels…

In 2004 Colorado passed legislation enacting the nation's first voucher-based approach to financing higher education, known as the College Opportunity Fund (COF). The work of an unusual coalition that included higher education leaders, generally conservative policymakers, and others, COF completely replaced the traditional approach of subsidizing…