The purpose of this study was to understand why graduation rates of African American male students from four-year historically Black colleges and universities (HBCUs) within a six-year period were not on par with those of other races and ethnicities and, in particular, whether the reasons African American male students drop out rather than persist in achieving their bachelor's degree was predicted by location, financial obligation, or academic preparedness. The study population was a group of incoming African American male freshman college students enrolled full-time and for the first time at an HBCU in the Midwest. Time frame for study population was set for enrollment periods spanning autumn 2000 semester through autumn 2006. A quantitative research design was used to conduct this study. The data was analyzed using standard descriptive statistics, a point biserial correlation coefficient, a phi coefficient correlation, and logistic regression. Tests were conducted to determine if there was a relationship between financial obligation (FIN) and American College Test (ACT) variables and the log likelihood (LL) of graduation related to these variables. There was a significant relationship between the log likelihood of graduating in relation to the variables FIN and ACT. The logistic regression statistics respectively yielded p values less than 0.05. Using the stepwise regression procedure, the maximum log likelihood estimates of the input variables parameters and identifying two variables for predicting the log likelihood of graduation based on the sample used in this study the results indicated a specific fit over and above the fit achieved by using FIN alone. Therefore, adding the variable ACT did have a specific effect on fit over and above the fit achieved by using FIN alone. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]