The locus of control and value orientations of undergraduate and graduate students in schools of business and education at Virginia Commonwealth University were assessed. Rotter's Internal-External Locus of Control Scale and Rokeach's Value Survey were administered to 1,139 students who ranged in age from 18 to over 40. Results indicated that older students were more internally-oriented than younger students in both schools and that males were more internally-oriented than females in the school of business. The terminal and instrumental values given highest priority by students in both schools were identical. There were significant differences between the schools for the values "A World of Peace,""Happiness,""Ambitious," and "Helpful." Partial correlations of terminal and instrumental value rankings with locus of control scores controlled for age and sex indicated that internally-oriented business and education students valued "A Sense of Accomplishment,""Wisdom," and "Self-Respect." The internally-oriented students differed regarding the values "Ambitious,""Freedom,""Equality," and "National Defense." Externally-oriented business students valued "Pleasure, "Mature Love," and "A Comfortable Life." Finally, externally-oriented education students valued "Family Security." A 16-item list of references and six data tables are appended. (Author/SW)