This report is a description of the findings related to 5-year graduation rates of student athletes who entered National Collegiate Athletic Association (NCAA) Division I institutions in the fall semester of either 1984 or 1985. The study is based on data collected in the NCAA Study of Academic Performance of Student Athletes. Overall graduations rates are presented for a group of 3,288 student athletes from 85 Division I institutions. Further breakdowns include sex, race, and sport differences. Table 1 presents a breakdown of 5-year graduation rates for 1984 and 1985 student athletes. Table 2 summarizes the college outcomes for student athletes in the sample studied, and tables 3,4, and 5 show breakdowns of the graduation rates at specific levels of a high school academic predictor variable. The results from the study show the differences among various subgroups of student athletes in their academic preparation and performance. Findings indicate that females, in general, are better prepared and fare better than their male counterparts. The same is revealed for whites when compared with blacks; however, it is also shown that blacks, in general, performed slightly better than whites at the same level of preparation. (GLR)