This digest reports on a study that examined the impact of participation in a two-way immersion program on the language and achievement outcomes of former program participants and on their current schooling path and college plans. The study explored outcomes for three groups of students: (1) Hispanic students who began the two-way program as English language learners; (2) Hispanic students who began the program as English-only or English-dominant speakers; and (3) European American students who entered the program as monolingual speakers of English. The results of this study are impressive on two counts. First, they demonstrate that high school students who participated in the two-way program developed high levels of academic competence and motivation, ambitions to go to college, knowledge about how to apply to and get into college, and pride in bilingualism. In addition, they were highly satisfied with their education in the two-way program. Results of the study point to the development of a sense of resiliency among Hispanic students, particularly those learning English and those from low-income families. These students appear to possess high self-esteem, motivation to study hard, belief in academic competence, perception of a positive school environment, a supportive family, and a peer group that values education-characteristics that have been identified with resilient and successful students, that is, those living in adversity or from high-risk environments but who are well adjusted and achieve academic success. (Author/VWL)