Workers today increasingly need postsecondary education to access consistent employment and livable wages, with an estimated 65 percent of jobs requiring some form of postsecondary credential as of 2020. The financial barriers to higher education are particularly high for Black Americans, who on average carry less than a quarter of the familial wealth of their white peers, are more likely to take out larger amounts in student loans, and face twice the rate of unemployment even at higher levels of educational attainment. The Center for Law and Social Policy (CLASP) applauds Congress and the Biden-Harris Administration for their commitment to improving economic security for all through the Build Back Better (BBB) framework and proposed investments in postsecondary education. The higher education proposals included in the reconciliation package represent important progress toward improving college affordability and access, particularly for populations with low incomes, Black Americans, and immigrant students. The following information about higher education investments in Build Back Better are presented in this fact sheet: (1) Pell Grant increases - $7.6 billion; (2) Retention and completion grants - $500 million; (3) Funding for Historically Black Colleges and Universities (HBCUs), Tribal Colleges and Universities (TCUs), and Minority-Serving Institutions (MSIs) - $9.1 billion; and (4) Career and Technical Education - $700 million.