The purpose of this state report card is to provide the general public and policymakers with information they can use to assess and improve postsecondary education in each state. "Measuring Up 2006" is the fourth in a series of biennial report cards. The report card grades states in six overall performance categories: (1) Preparation: How adequately does the state prepare students for education and training beyond high school?; (2) Participation: Do state residents have sufficient opportunities to enroll in education and training beyond high school?; (3) Affordability: How affordable is higher education for students and their families?; (4) Completion: Do students make progress toward and complete their certificates or degrees in a timely manner?; (5) Benefits: What benefits does the state receive from having a highly educated population?; and (6) Learning: What is known about student learning as a result of education and training beyond high school? Findings for California include: (1) Despite substantial improvement, California's performance in preparing students to succeed in college remains low when compared with other states. This year California receives a C in preparation; (2) California continues to perform well in enrolling students in higher education. This year California receives an A in participation; (3) California has generally made progress in making higher education affordable, primarily through its many low-priced community colleges. Despite that trend, California has lost ground through recent tuition and fee increases. This year California earns a C- in affordability; (4) California has seen substantial gains in the proportion of students earning certificates and degrees in a timely manner. This year California receives a B in completion; (5) California has seen an increase in the benefits it receives from a more highly educated population. This year California earns an A in benefits; and (6) Like most states, California receives an "Incomplete" in Learning because insufficient data would not allow meaningful state-by-state comparisons. However, data are available this year to examine the readiness of college graduates--from two- and four-year institutions--for advanced practice. This report also includes international comparisons, additional information, questions and answers, and state grades. (Contains 3 figures.) [For "Measuring Up, 2006. The National Report Card on Higher Education," see ED493360.]