Similarities and differences between adult and traditional-aged students were analyzed based on a survey of 13 cohorts of first-year college freshmen. A sample of 172,400 first-year students over the age of 21 who responded to the Cooperative Institutional Research Program's freshman survey between 1966 and 1978 was compared to a nationally representative sample of traditional-aged students. The analysis considered the following areas: demographics, college choice, the financing of college education, preparation for college, college plans, and life goals. The following demographic characteristics of respondents were considered: enrollment status, age, sex, race, marital status, number of children, and father's and mother's educational attainment. Generally, the greatest concentration of adults was found in the two-year colleges, particulary those that are publicly controlled. Reasons for the student's selection of the college they attended included the institution's quality, and at times, job-related training and cost. Students' concern for financing their college education was considered in relation to demographic characteristics, field of study, and type of institution attended. The extent of preparation offered in high school, the need for remedial help, high school grade point average, living arrangements while attending college, degree aspirations, probable major, and probable career after college were assessed. Additionally, social, family, business, and personal life goals of respondents were evaluated. Implications of the study findings and results of additional study of a subsample of the respondents are considered. A bibliography is included. (SW)