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 Alaska include: (1) Alaska has improved in preparing students to perform well in college, and this year receives a B- in preparation; (2) Alaska has lost ground in its efforts to enroll students in higher education. Alaska receives a C+ in participation this year; (3) Alaska made no notable progress in making higher education affordable. This year Alaska receives an F in affordability; (4) Despite substantial improvement, Alaska is one of the worst-performing states in the proportion of students earning certificates or degrees in a timely manner. This year Alaska is one of only two states to receive an F in completion; (5) Alaska is one of only two states to see a decline in the benefits the state receives from having a more highly educated population. This year Alaska earns a B- in benefits; and (6) Like most states, Alaska 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.]