The purpose of this state report card is to provide the general public and policymakers with information they can use to assess and improve postsecondary education in each state. "Measuring Up 2006" is the fourth in a series of biennial report cards. The report card grades states in six overall performance categories: (1) Preparation: How adequately does the state prepare students for education and training beyond high school?; (2) Participation: Do state residents have sufficient opportunities to enroll in education and training beyond high school?; (3) Affordability: How affordable is higher education for students and their families?; (4) Completion: Do students make progress toward and complete their certificates or degrees in a timely manner?; (5) Benefits: What benefits does the state receive from having a highly educated population?; and (6) Learning: What is known about student learning as a result of education and training beyond high school? Findings for Nevada include: (1) Despite improvement, Nevada's performance in preparing students to succeed in college remains low when compared with other states. This year Nevada receives a C- in preparation; (2) Despite improvement, Nevada's performance in preparing students to succeed in college remains low when compared with other states. This year Nevada receives a C- in preparation; (3) The affordability of higher education in Nevada has declined. This year Nevada is one of many states to receive an F in affordability; (4) Despite improvement, Nevada's performance in the proportion of students earning a certificate or degree in a timely manner remains very poor when compared with other states. Nevada is one of only two states to receive an F in completion this year; (5) Despite improvement, Nevada continues to struggle to realize the benefits that come from having a more highly educated population. Nevada receives a C- in benefits this year; and (6) Nevada is among nine states that receive a "Plus" in Learning because data were sufficient to compare at least two of the three Learning categories in the state results described in this paper. This report also includes international comparisons, additional information, questions and answers, and state grades. (Contains 3 figures.) [For "Measuring Up, 2006. The National Report Card on Higher Education," see ED493360.]