Today education and training beyond high school are more essential to our success as individuals and as a nation than ever before. Americans have responded to these new realities, and education beyond high school is now the norm in the US. These trends make the federal Higher Education Act (HEA), which governs federal student aid programs and accreditation rules for colleges and universities, more important than ever. This policy brief outlines recommendations for HEA reauthorization which will increase innovation, affordability, and transparency in higher education, while ensuring accountability for students and taxpayers.