This report builds on a foundation of knowledge about the academic readiness of the ACT-tested high school graduating class of 2012 as presented in "The Condition of College & Career Readiness" (see ED534761). An important conclusion of the "Condition" report is that far too many high school graduates are not prepared for success in college and career as defined by their attainment of the ACT College Readiness Benchmarks. After receiving positive feedback on the first report and requests for more information, ACT expanded the content of the report this year to include information spanning multiple stages of the college choice process. Part 3, presented in this report, revisits the class during their second year of college to report on student persistence within postsecondary education and to examine the relationships between their self-reported college preferences and their transfer patterns. [For "2012 College Choice Report--Part 1: Preferences and Prospects," see ED546629. For "2012 College Choice Report--Part 2: Enrollment Patterns," see ED546630.]