This report, which is the collaborative effort of the 23-member institutions of the consortium, proposes a financial aid structure that would provide access and a degree of choice in postsecondary education. Its overriding concern is with the structure of financial aid. The consortium recommends redirecting benefits under existing laws so that those resources can be more effectively used. The consortium's proposal addresses itself to the six key Title VI programs (The Basic Education Opportunity Grant Program, the Supplemental Educational Opportunity Grant Program, the State Student Incentive Grant Program, the College Work-Study Program, the National Direct Student Loan Program, and the Guaranteed Student Loan Program). In addition, there is a commentary that discusses goals, priorities, and costs. (Author/KE)