This study investigated the level of accumulation of community college credits up to the point at which students transfer into public, four-year institutions. A sample survey was done of public, four-year institutions, asking them to report the credit accumulations of its incoming transfer students. A group of 50 institutions were selected to participate. A successful pilot test using 13 of these institutions tested the study instruments and study feasibility. The full study invited all 50 institutions to participate with 30 institutions agreeing. The institutions provided data on credits earned, credits accepted, and degrees earned overall, and by race/ethnicity and gender. These institutions reported on more than 15,000 students. Findings revealed the following: (1) the number of credits earned and the number of credits accepted are related to student race/ethnicity; (2) male and female students transfer from community colleges after they have earned an average of 62-63 credits; (3) black, non-Hispanic students are more likely to transfer with fewer credits than other student groups; (4) females at non-doctoral institutions are more likely than males to earn a degree; and (5) black, non-Hispanic and Hispanic students represented larger proportions of the non-doctoral institution transfer cohort than they do of the doctoral institution transfer cohort. An appendix lists participating institutions, the study instruments, and supplemental tables. (JB)