This study evaluated the advantages of formal higher education in establishing a second career for retired Army officers. Primary sources of data were Army officer students and recently retired officers. These were among the conclusions: (1) high response to the survey showed interest in, and career-related importance attached to, higher education; (2) 94% of students and 68% of retirees have baccalaureate degrees; (3) most students are seeking master's and doctoral degrees; (4) advancement in rank is correlated with educational attainment; (5) military schooling for students, based on rank and longevity, is very high; (6) academic education and professional education are closely interrelated; (7) reported incomes of retirees are high (over $10,000 for the majority); (8) direct application, service friends, resumes, and contacts on the job were used by retirees to find positions; (9) counseling and guidance service is inadequate for both students and retirees; (10) there are ample opportunities within the Army for virtually every career officer to continue; (11) satisfaction, challenge, and prestige rank with financial considerations in the choice of new careers; (12) restrictions imposed by the Dual Compensation Act have a damaging effect. (author/ly)