America's most widely used college admission examinations systematically underpredict the abilities of high school girls, who make up over 52% of the test-takers. Each year more than three million students who plan to attend college take the Scholastic Aptitude Test (SAT), Preliminary Scholastic Aptitude Test/National Merit Scholarship Qualifying Test (PSAT/NMSQT), and/or American College Testing Program Assessment Exam (ACT). The test publishers claim that their exams predict students' future academic performance. Even though females consistently earn higher grades in both high school and college, they receive lower scores on all these exams. Reliance on such biased exams markedly diminishes chances for women to: (1) obtain college tuition aid awarded by the National Merit Scholarship Corporation and over 150 private companies, government agencies, and foundations; (2) gain admission to over 1500 colleges and universities; and (3) enter many special education programs reserved for gifted and talented high school students. All these factors can contribute to a real dollar loss for women in later life as they get less prestigious jobs, earn less money, and have fewer leadership opportunities. Those from economically-disadvantaged backgrounds are doubly penalized by both the gender and class biases of these exams. Test discrimination can also instill a life-long loss of self-confidence that cannot be calculated in financial terms. (LMO)