In 2003, the Early College High School (ECHS) Finance Working Group undertook to determine the costs of planning and implementing early college high schools. This pilot study, reporting on that research, is based on actual budgets developed for current and planned early college high schools. Six budgets are included: three for schools on a public two-year college campus and one each for a school on a public university campus, a charter early college high school, and an early college high school at which all college courses are taught on the high school campus. This pilot study begins to answer three questions: (1) What are reasonable costs and funding streams for planning and implementing various early college high school designs?; (2) How do ECHS costs differ from those for traditional high schools?; and (3) How do projected revenues and costs for planning and full implementation vary across ECHS designs? The study also tracks relationships between budget items and a set of early college high school design elements. Despite several limitations, the findings of the pilot study are suggestive. For example, if, as the preliminary data suggest, average costs for early college high schools nationwide are within the range of average per pupil allocations, even given the limitations cited, investments in early college high school actually buy much more, providing students with opportunities to earn significant college credit while in high school. (Contains 7 tables and 10 footnotes.)