This paper discusses Public Law 94-142, which guarantees a free and appropriate public education for all handicapped children, and its implications for nonhandicapped students. The controversial provisions of the statute and reactions they have generated in the field are discussed in detail. Finally, the paper explores some potential implications of the statute for nonhandicapped children as well as for public education in general. It concludes that the statute holds great potential for educational reform at all levels. However, it cautions educators to assess the impact of the law on the total public school program and to reevaluate current directions before courts and legislatures make greater demands on schools, dissipating energies and funds, with all children emerging the losers. (Author/LD)