A college education strongly affects whether or not children from poor or low-income families move up the economic ladder when they become adults. But they are less likely to enroll in either two- or four-year colleges, and less likely to complete a degree when they do, relative to those from middle- and upper-income families even after accounting for differences in academic preparation. We review current federal efforts to help low-income students attend college, and recommend new policies that would improve their academic preparation, provide more effective guidance on selecting and paying for college, and improve retention and graduation rates.