This comparison of values held by junior college freshmen and faculty is part of a larger study being conducted by the ERIC Clearinghouse for Junior Colleges to develop guidelines for institutional assessment and/or program development. Part I of this monograph discusses the generation gap as it applies particularly to values and goals of American college students. Included are: definitions of belief systems; approaches used to assess them, notably the Rokeach Terminal and Instrumental Value Scales; and pertinent research and rationale for incorporating a study of values into an analysis of the community college. Part II describes the basic rationale and results of this investigation. The student and faculty populations surveyed come from three Los Angeles area junior colleges, each respectively embodying the characteristics of an urban, suburban, and rural school. Most notably, it was found that: (1) the actual role of student or teacher seems to affect a value system more than the other variables of sex, designated major, and age; and (2) values do indicate one potentially fruitful way of examining people. It is hoped that by examining value differences, ways may be found to better understand people who function in our systems of education. (Author/CA)