As the majority of the graduation class, transfer students are neither being counted into the college graduation rate nor giving entrant institutions positive effect on retention. The study examines 906 students of 2002 transfer cohort in a public four-year institution. The study found the majority of the transfer students were female and white, had a prior degree and with good academic standing from transferring institutions. Transfers from two-year colleges and four-year institutions were different on the number of transfers, institution type, and institution location, but similar on major program chosen, number of transferable credit hour, and GPA. The number of transferring credit hour, possess a prior associate degree, and 2nd semester GPA after transfer are positively impact the degree attainment within two years. Gender factor and 2nd semester GPA after transfer help retain the transfers' for continuously seeking bachelor degree. From the institution point of view, trend of transfers' graduation rate is an important performance indicator. (Contains 3 tables.)