This hearing is the third in a series examining critical issues in postsecondary education as the committee looks to reauthorize the Higher Education Act. The topic discussed is of paramount importance and is arguably the bedrock of Federal higher education policy, that is, the Federal financial aid programs and their effectiveness in providing access to higher education. The following committee member contributed statements: (1) Harkin, Hon. Tom, Chairman, Committee on Health, Education, Labor, and Pensions, opening statement; (2) Alexander, Hon. Lamar, a U.S. Senator from the State of Tennessee, opening statement; (3) Murray, Hon. Patty, a U.S. Senator from the State of Washington; (4) Bennet, Hon. Michael F., a U.S. Senator from the State of Colorado; (5) Casey, Hon. Robert P., Jr., a U.S. Senator from the State of Pennsylvania; (6) Baldwin, Hon. Tammy, a U.S. Senator from the State of Wisconsin; and (7) Franken, Hon. Al, a U.S. Senator from the State of Minnesota. The following witnesses provided statements: (1) Long, Bridget Terry, Ph.D., Academic Dean and Xander Professor of Education, Harvard Graduate School of Education, Cambridge, MA, prepared statement; (2) Cook, Kim, Executive Director, National College Access Network, Washington, DC, prepared statement; (3) Scott-Clayton, Judith, Ph.D., B.A., Assistant Professor of Economics and Education, Columbia University, New York, NY, prepared statement; and (4) Conklin, Kristin, Founding Partner, HCM Strategists, Washington, DC, prepared statement.