In 2011, the College Board released its SAT college and career readiness benchmark, which represents the level of academic preparedness associated with a high likelihood of college success and completion. The goal of this study, which was conducted in 2008, was to establish college success criteria to inform the development of the benchmark. The College Board convened a panel comprised of experts in educational policy and higher education to review data showing the relationship between SAT scores and college performance. Panelists were asked to provide two sets of ratings on what first-year college GPA (FYGPA) should be used to define the criterion for success in the first year of college; and two sets of ratings to define the probability level for a successful student attaining that FYGPA (probability of mastery). The mean FYGPA rating from the second round was 2.62 (with a median of 2.67), and the mean and median rating for probability of mastery was 70%. The SAT score associated with the panelists' final ratings was approximately 1580. Three appendices are included: (1) Sample Rating Form; (2) Percentage of Students in the SAT Validity Study Earning Different FYGPA by SAT Score Category, and by Gender and Ethnic Subgroups (table); and (3) Standard-Setting Evaluation Survey.