Between 2001 and 2005, higher education in Italy went through a considerable process of reform according to the "Bologna Process." This paper evaluates the effects of this process on the academic performance of students. We estimate the difference in graduation probability between students who switched from pre-reform university courses to post-reform courses and students who carried on their pre-reform academic career. To this end, we considered a sample of 25,866 undergraduate students enrolled 1 year before the implementation of this policy, a number that was reduced by matching techniques to achieve a balanced sample of 1020 units, thereby allowing a causal interpretation of results. Estimates of logistic models on the balanced sample suggest that switching to the post-reform university system increases the probability of completion for younger students. Furthermore, higher socio-economic backgrounds of students are positively related to graduation probability, suggesting that the social inequalities are still noticeable when the completion rates of tertiary education are considered.