In the context of recent reappraisals of women's education and discussions about what it should be, and as part of the effort to clarify the purposes of collegiate education that may be unique to women, the students and faculty at Smith College, the largest undergraduate college for women, were surveyed. The questionnaire used was designed to explore the appeal to various rationales for the existence of separate women's colleges. The results of the survey are presented in summary tables, and the discussion centers on the most popular purpose for this population: "to encourage women to create their own self-identities." The specific issue addressed is whether or not this purpose requires abandonment of the traditional aims of liberal arts education. The conclusion of the authors is that it does not, although it calls for a redefinition of what constitutes the highest levels of development for women. Several other statements of purpose such as preparation for careers and encouraging achievement in women are discussed briefly. A compensatory model for women's education is questioned on both ethical and logical grounds. (Author/MSE)