A nation's utilization and creationof knowledge endeavors are globally acknowledged as thedriving forces for economic development and competitiveness.Public and private investments in institutions of highereducation and research require strengthening in tandem withthe development of a regulatory environment that supportsnational and institutional growth. In recognition of theseissues, the Government of Bangladesh's first HigherEducation Strategic Plan (2006-2026) proposed a long-termdevelopment plan for the higher education sector,recommending that the plan will need to be cognizant of bothuniversities and the Bangladesh NationalUniversity-affiliated colleges where the majority ofpost-secondary graduates are enrolled. This study addresseschallenges faced by a major part of the higher educationsector in Bangladesh - the colleges. The objectives of thestudy are to: a) review and analyze the college educationsystem of Bangladesh and b) identify policy options whichwill guide the government as it prepares a long-termstrategy to improve the quality and relevance of highereducation. This report is divided into the four key areasripe for reform: a) access and equity, b) quality andrelevance, c) financing, and d) governance.