This study examined the educational environment placement and educational outcomes of students identified as having an emotional disturbance (ED). The sample was drawn from special education enrollment data for students aged 6-21 years in the 50 states and Washington, DC in 2010. Additional economic and demographic state-level variables were examined to determine associations with the previously noted variables. The results of this study show substantial state-level variability in the educational outcomes of students with ED, with the rate of students with ED graduating with a regular diploma four times as high in some states as it is in others. Additionally, regression analysis indicated that state-level ED identification rates were significantly predictive of students with ED graduating with a regular diploma. Implications of the substantial variability and of further research are discussed.