Despite claims that colleges and universities are isolated from ideological preferences, sociopolitical discourse regularly shapes policies and practices of postsecondary education. This article considers how national discourse on federal aid for postsecondary education during the 1970s reflected a monumental shift in higher education policy. Specifically, we critique neoliberalism, a tenet of critical race theory (CRT), to examine key testimonies from six expert educational leaders during a 1978 hearing on the Middle Income Student Assistance Act (MISAA). The key testimonies examined in this article highlight how language shifted the focus of national discourse on federal financial aid from public to private good, and from equal opportunity for traditionally underrepresented populations to equitable education for all.