This report, a continuation of the study described in TM 000 174 and TM 000 176, employs identical data and similar methods to determine the nature of desirability separate and apart from the rater's perception of the student's academic performance (rather than his actual performance). The results show an absorption in the faculty perception of performance of much of the variance previously associated with dependability, intellectual ability and values, motivation, self-sufficiency/creativity, and maturity in defining desirability apart from academic performance. The analysis tends, however, to accentuate the contribution of other traits, notably ethicality, likableness, open-mindedness, and altruism. It appears that desirability is highly related to perception of academic performance, and that other areas, normally expected to make an honest contribution to performance (dependability and motivation, for example) are perceived by the faculty to do so. There is a remaining reliable variance in Scholastic Aptitude Test (SAT) scores and actual grades which is related neither to perception of performance nor desirability. See TM 000 177 and TM 000 179-000 181. (Author/DG)