Last month the Congressional Budget Office projected an $11.5 billion shortfall in Pell funding by fiscal year 2027. The program provides need-based federal financial aid for more than 30 percent of American college students. Part of the funding problem is that Congress made getting aid easier without appropriating more money to cover the increase in students gaining access.

Finding a solution requires out of the box thinking that creates sustainable funding without limiting opportunity for first-generation students, according to this week’s guest, Kristin Hultquist, the founder and CEO of HCM strategies and an expert in higher education policy and strategy development. In this episode of The Key, Hultquist speaks with Inside Higher Ed’s editor in chief Sara Custer about what a long-term funding strategy for a modern Pell Grant program could look like.

Thank you to our partners at the Gates Foundation for sponsoring this episode.

Robert Zemsky is a pioneer in market analysis of higher education and served as the founding director of the University of Pennsylvania’s Institute for Research on Higher Education, one of the country's leading public policy centers specializing in educational research and analysis. In this episode of The Key, Zemsky speaks with Inside Higher Ed's editor in chief Sara Custer about his biggest project yet: championing three-year bachelor's degrees in the U.S.

He argues that higher education is seeing "product rejection" from students and that three-year degrees are the solution. But Bob is careful not to be proscriptive about how colleges develop shorter programs. His message to educators is: try it, you might like it.

News editor Katherine Knott joins editor in chief Sara Custer for an IHE newsroom updated on federal policy. Katherine shares what she expects will be on the agenda in the negotiated rule making for accreditation and how the department will run the process. At the time of recording the government was shut down, but Katherine explains how the budget bill awaiting passage in the House is far more generous to higher ed than the White House’s proposals. And rumors are swirling that the administration will unveil a second compact soon.

Thanks to our partners The Gates Foundation for sponsoring this episode.