Characteristics of graduates who completed bachelor's degrees within 4 years of high school graduation were compared with graduates who took longer than 4 years. Data were obtained from the Postsecondary School Transcripts Study, a supplement to the National Longitudinal Study of the High School Class of 1972. The sample consisted of 4,440 graduates who received the bachelor's degree by December 1984. Less than half the students who earned a bachelor's degree entered college by the fall after high school graduation and completed their degree within 4 years. Fifty-one percent took more than 4 years from high school graduation to complete their degree. Three-fourths earned their degree within 5 years after high school graduation, and 24% took 6, 7, or more years. The effects of the following characteristics on degree completion were assessed: aptitude test composite score; high school curriculum (academic, general, vocational); socioeconomic status; and region of high school (Northeast, North Central, South, West). The percentage of degree recipients who completed a degree within 4 years was also calculated for selected majors (social sciences, mathematics and sciences, education, humanities, business and marketing, and engineering). Technical notes on the study are appended. (SW)