This brief tells the story of Indiana’s efforts to develop and implement outcomes-based funding (OBF) for public postsecondary education. Indiana’s story is supplemented by a briefer description of efforts in Tennessee. Based primarily on interviews with key state leaders, this story is designed to highlight the unique path each state took to implement funding policies that can help increase educational attainment beyond high school, improve equity in student outcomes, and inspire ideas for leaders in other states.