Data on dropout trends over time are combined with data from the National Education Longitudinal Survey to give a picture of the dropout situation in the United States and the aspirations of students who have dropped out. In 1993, about 381,000 students dropped out of high school. In economic terms the consequences of dropping out can be demonstrated by the fact that, in 1992, dropouts earned about $6,000 a year less than those who completed high school. By all measures, the percentage of students dropping out of high school is declining. Even in large urban school districts, where dropout rates have been highest, they are improving. In 1992-93 the median 4-year dropout rate was 28%. Black and Hispanic American students are still somewhat more likely to drop out than Whites and Asian Americans. Thirty percent of girls who dropped out did so because of pregnancy. Many dropouts remain optimistic about their prospects. Only 15% of dropouts indicated that they expected to attain less than a high school education in their lifetimes, with about a fifth planning to attend a vocational or trade school. One third planned to attend college. (Contains 20 figures, 5 tables, and 10 references.) (SLD)