Graduate education plays a central role in advancing the Nation's science and engineering research enterprise. It is also increasingly the means by which the Nation develops a diverse and highly technical Science Technology Engineering and Mathematics (STEM) professional workforce. The view that graduate education in STEM disciplines is an essential asset for achieving national priorities is one of the foundational principles for the "Federal STEM Education 5-Year Strategic Plan." The primary purpose of this Strategic Framework for Investments in Graduate Education is to state the Foundation's goals in supporting graduate education, and to formulate a set of strategic objectives that describe the ways that NSF plans to meet those goals. The first section of this framework describes the rationale for its creation and outlines the coordination strategy for its development and implementation. The next section discusses the importance of graduate STEM education to the Nation's scientific discovery and innovation. It presents the need to better prepare students for today's jobs and those of the future, and summarizes the primary challenges facing graduate education. The framework then presents three goals that serve as the foundation of the NSF investments in graduate education, along with a set of strategic objectives for these investments: (1) Advance Science and Engineering (S&E) Research; (2) Broaden Participation to Promote Excellence in Research and Build the Next Generation STEM Workforce; and (3) Build Effective Models of Graduate Education and Workforce Development. Five strategic objectives demonstrate how the Foundation will advance these goals over the next five years. The following are appended: (1) NSF Investments in Graduate Education; (2) Selected Contributing Programs for Strategic Objectives; and (3) Issues for Further Discussion.