This paper examines the possibility that returns to various personal characteristics obtained from education differ among five Spanish surname ethnic groups as well as for Blacks and non-black, non-Spanish people (Anglos). Numerous studies have found differences in the returns that Blacks and Whites obtain from education, experience, migration, and other personal characteristics. To measure these differences in return, it is now common practice to run entirely separate regressions for Blacks and Whites; especially significant for policy have been findings that Black-White earnings differences stem not only from lower Black educational attainment, but also from lower Black returns to education. The data for this study came from the 1971 Current Population Survey. It was found that in 1970 returns to education were 30 percent higher for men of Cuban and Central or South American origin than for non-Spanish, non-Black (Anglo) men, Puerto Rican men or other Spanish men. Black and Chicano men had returns of about 70 percent those of Anglo men. These differences are not explained by differences in nativity, mother tongue, years of education, or marital status. Differences in discrimination, quality of schooling, and class origin may be the causes, but data are insufficient to draw firm conclusions. (Author/JM)