The recommendations put forth in this paper stemmed from a series of conversations, conducted over the course of 2019, with experts and stakeholders representing a range of perspectives and experiences within higher education and financial aid. The working group explored policy design details in depth and identified core areas of general agreement, which are incorporated into recommendations for the next steps that California policymakers should take to: (1) improve accuracy of colleges' cost estimates; (2) set reasonable financial expectations for families and for students; (3) ensure reasonable non-financial eligibility terms for students; (4) remove unnecessary and outdated barriers to financial aid; and (5) communicate effectively with students and families. Together, these changes would form the backbone of an achievable debt-free pathway to a college degree or certificate for California residents. The recommendations are intended to help identify the North Star for state financial aid discussions and to guide new investments both large and small by articulating both the goals of financial aid reform as well as the students in most need of investment.