Evaluative statements from alumni have legitimacy with both internal and external stakeholders. Thus, alumni studies can provide valuable evidence of institutional effectiveness and lend themselves to both locally designed and commercial survey instruments for data collection. Under ideal conditions, the results of alumni studies equip faculty and administrators with information for making constructive alterations to programs and curricula, as well as for demonstrating institutional effectiveness. However, several research challenges must be addressed. In this chapter, Volkwein describes the challenging problems with alumni studies. He suggests to begin the alumni study by using an outcomes model for guiding research design, data collection, and analysis. He presents some sources of information for alumni researchers, and stresses that alumni are important sources of information and support; therefore, alumni studies should occupy a prominent place in the institutional research portfolio. (Contains 2 figures.)