This publication presents the findings of a commission that evaluated the current division of responsibilities for financing postsecondary education and makes recommendations for restructuring national policy in this area. Following an executive summary in section I, section II analyzes the policy concerns of college cost, accessibility, and financial responsibility. Section III presents the commission's recommendations concerning the federal role in financing postsecondary education as well as the roles of state governments, institutions, the private sector, and philanthropists. The key theme of the recommendations is that the partnership among governments, institutions and individuals in the financing of postsecondary education is an essential concept that must represent the foundation of future financing policy; that such partnership requires each participant to contribute to the system's success; and that the federal government is in the best position to encourage the partnership by promoting a greater sense of shared responsibility for financing postsecondary education. Specific proposals include a Student's Total Education Package, simplifying the loan system, a Community Service Incentive Program, and tax-incentives to save for college. Appendixes contain estimates of cost savings and new expenditures resulting from the recommendations, commission member biographies, a schedule of commission meetings, and 82 references. (JB)