Advanced education contributes to greater individual and regional prosperity, including increased earnings, improved economic growth, greater levels of community engagement and improved health outcomes. Rising costs to students and families combined with a student body that may require additional resources to ensure its success, however, may make access to and completion of a credential more challenging in the future. States are seeking ways to maintain excellence in higher education, make college more affordable, reduce student debt and help individuals and families make smart decisions -- all elements of The Virginia Plan for Higher Education. Properly aligned resource and policy decisions will help Virginia meet its goal to be the best-educated state by 2030. In 2018 the Governor and General Assembly approved an additional $165.2 million for Virginia higher education to help address these issues. While these amounts were less than the State Council of Higher Education for Virginia (SCHEV) recommendations, general fund appropriations for Educational and General Programs (the primary operating funds for colleges and universities) increased 0.3% in the first year of the biennium and 4% in the second year. The Commonwealth finds itself in an excellent economic climate. Federal tax changes, low unemployment and strong economic activity have contributed to higher than anticipated state tax revenues. Yet, funding is not unlimited, and policy makers will have to make difficult decisions. In this report, SCHEV staff presents budget options and policy considerations for the Council.