This study examines the relationship between scores on the SAT and retention to the second year of college using student level data from the freshman class of 2006 at 106 four-year institutions. Results indicate that the SAT predicts second-year retention, with 95.5 percent of high performers returning but only 63.8 percent of low performers. While retention rates do vary by subgroups (i.e., gender, ethnicity, parental income, and highest parental education) and institutional characteristics (i.e., control, selectivity, size), these differences are moderated when SAT performance and other indicators of academic preparation are considered. Three appendices are included: (1) Retention Rates Within Student and Institutional Characteristics by SAT Score Band; (2) Retention Rates by Two Institutional Characteristics; and (3) Retention Rates by Student Characteristics by Institutional Characteristics.