The nature and purpose of US colleges is explored within the framework of student development and its relationship to social change. Data were gathered during a 5-year study on the educational, vocational and personality development of 10,000 graduating high school seniors. A strong relationship was found between college entrance, level of ability and socioeconomic status. Of the graduates who entered college, almost 50% withdrew before obtaining a bachelor's degree, but this dropout rate did not seem to be linked with lack of ability. Academic motivation, encouraging family climate, and intellectual disposition, factors that stimulated students to enter and remain in college for 4 years, did not influence 48% of the college dropouts and 15% of the bright graduates who did not attend college. Academic, vocational and financial guidance were provided by high school counselors to those students already motivated by parental encouragement. It is proposed that identification of student potential, stimulation of educational interests and other related efforts begin in nursery and elementary school with the collaboration of teachers and counselors. Colleges should design programs to help students develop the necessary intellectual, autonomous and flexible thinking for today's society. It is also suggested that student recruitment take individual needs and personalities into consideration. (WM)