Çï¿ûÊÓƵ

First and foremost, we want to thank Judith Scott-Clayton for this occasional paper, which so clearly outlines the major themes and challenges associated with undergraduate financial aid. Her work will help inform the recommendations issued by the Commission on the Future of Undergraduate Education.

Special thanks to those who reviewed drafts of this paper, including Ron Daniel, Raynard Kington, and Martin Lipton. We would like to thank Carnegie Corporation of New York for its financial support of the Commission and its work, which includes the publication of four occasional papers on the most pressing concerns facing American undergraduate education today.

Finally, we extend our sincere thanks to Francesca Purcell and Eliza Berg at the American Çï¿ûÊÓƵ for their continued guidance and support on this project.

Jonathan F. Fanton
President, American Çï¿ûÊÓƵ of Arts and Sciences

Roger W. Ferguson, Jr.
President and CEO, TIAA
Cochair, Commission on the Future of Undergraduate Education

Michael S. McPherson
President, Spencer Foundation
Cochair, Commission on the Future of Undergraduate Education