This study focused on the transfer and academic performance of applied associate degree recipients in Missouri. The author collected data on two-year college graduates who transferred to a Missouri public four-year college between fall 1996 and summer 1997 and graduated by spring 2000. The study sought to determine if there were any statistically significant differences in the baccalaureate degree completion rate and baccalaureate degree exit grade point average (GPA) of those who received the associate of arts (AA) degree and those who received the associate of science (AS) or the associate of applied science (AAS). The authors found that, in 1995-1996, more than 6,100 people received an associate degree from a Missouri public two-year college, with more than 51% receiving an AA degree and almost 49% receiving other types of degrees. Almost 26% of the associate degree holders transferred during the next academic year--83% of those who transferred had an AA and more than 17% had an AS or AAS degree. The authors found a statistically significant difference in baccalaureate degree completion rate between the two groups: those with an AA were more likely to complete the bachelor's than those with an AS or AAS. Almost 63% (822) of the AA students graduated, compared with 54% (150) of the AS/AAS students. However, no significant difference was found in GPA. (Contains 19 references.) (EMH)