This state report card is derived from "Measuring Up 2004," the national report card for higher education. Its purpose is to provide the public and policymakers with information to assess and improve postsecondary education in each state. "Measuring Up 2004" is the third in a series of biennial report cards. The report card grades states in six overall performance categories: (1) Preparation: How adequately are students in each state being prepared for education and training beyond high school?; (2) Participation: Do state residents have sufficient opportunities to enroll in education and training beyond high school?; (3) Affordability: How affordable is higher education for students and their families?; (4) Completion: Do students make progress toward and complete their certificates and degrees in a timely manner?; (5) Benefits: What benefits does the state receive as a result of having a highly educated population?; and (6) Learning: What is known about student learning as a result of education and training beyond high school? This state report card begins by summarizing the state's performance today compared with ten years ago, and by presenting key policy questions that these results suggest for the state. Next, the state's performance in each category is described in greater detail, followed by additional contextual information. Findings for New Hampshire include: (1) Over the past decade, New Hampshire has consistently performed well in preparing students to succeed in college. This year New Hampshire receives a B+ in preparation; (2) New Hampshire, over the past decade, has seen a decline in its performance in enrolling students in higher education. This year New Hampshire receives a C+ in participation; (3) New Hampshire has made no notable progress in providing affordable higher education opportunities over the past decade. This year New Hampshire receives an F in affordability; (4) Over the past decade, New Hampshire has shown stability and excellence in the proportion of students earning a certificate or degree in a timely manner. This year New Hampshire receives an A in completion; (5) Over the past decade, New Hampshire continues to perform well in the benefits the state receives from having a more highly educated population. This year New Hampshire receives an A- in benefits; and (6) Like most states, New Hampshire received an Incomplete in learning because there are no comparable data that would allow for meaningful state-by-state comparisons in learning. The Incomplete in this category highlights a gap in the ability to measure each state's educational capital--the reservoir of high-level knowledge and skills that benefit each state. [For "Measuring Up 2004: The National Report Card on Higher Education," see ED508096.]