I analyze the longer-run effects of a college-preparatory program implemented in inner-city schools that included payments to eleventh- and twelfth- grade students and their teachers for passing scores on Advanced Placement exams. Affected students attended college in greater numbers, were more likely to remain in college beyond their first year, more likely to earn a college degree, more likely to be employed, and earned higher wages. This is the first credible evidence that implementing college-preparatory programs in existing urban schools can improve both the long-run educational and labor market outcomes of disadvantaged students.