Students with higher achievement scores and high school grade point averages are more likely to succeed in college as measured by their retention and graduation rates. Furthermore, an institution's ability to attract better prepared students results in a better academic reputation of the institution. The fact that better prepared students are naturally attracted to schools with strong reputations presents a quandary for schools looking to improve their reputation and student outcomes. Without better prepared students, an institution cannot improve its reputation, and without improving its reputation, it will not be able to attract better prepared students. This paper examines the potential effects of raising admission standards on enrollment and completions for the University of North Dakota. (Contains 3 tables