This report compares Virginia's reading and mathematics performance on the most recent administrations of the state assessment with performance on the National Assessment of Educational Progress (NAEP). To indicate how Virginia is doing in narrowing the academic achievement gap between African American and Latino students and their white, middle class peers, the report presents NAEP data by race/ethnicity. The report presents other state-level data on K-college education, including demographic distribution across each educational level, participation and success in Advanced Placement, percentage of students taking high-level courses, school funding gaps, and high school and college graduation rates. In 2002, 78 percent of 5th graders passed the state's English assessment. On the 1998 NAEP reading assessment, 64 percent of 4th graders were at the basic level or above in reading, with 30 percent proficient or above. More white than African American 4th graders met state reading standards. In 2002, 71 percent of 8th graders passed the state's mathematics assessment. On the 2000 NAEP assessment, 68 percent of 8th graders performed at the basic level or above in mathematics, with 26 percent at proficient or above. More white than African American 8th graders met state mathematics standards. Virginia had the fourth smallest African American-white 4th grade reading achievement gap on the 1998 NAEP. Virginia's African American-white 8th grade mathematics achievement gap fell 13th among the states in 2000. African Americans are underrepresented in Advanced Placement exam taking, as well as in gifted and talented program enrollment, while Asian Americans take the exams at high rates. Over 40 percent of Virginia's high school students enroll in college, compared to 54 percent nationwide. Nearly three in ten Virginia secondary classes are taught by teachers lacking a major or minor in the field. Districts with the highest child poverty rates, and those with the highest minority enrollments, have the fewest state and local dollars to spend per student. (SM)