This report builds upon a series of National Center for Education Statistics (NCES) reports on high school dropout and completion rates that began in 1988. It presents estimates of rates in 2002 and 2003, provides data about trends in dropout and completion rates over the last three decades, and examines the characteristics of high school dropouts and high school completers in 2002 and 2003. Four rates are presented to provide a broad picture of high school dropouts and completers in the United States, with each contributing unique information: the event dropout rate, the status dropout rate, the status completion rate, and the averaged freshman graduation rate--an indicator new to this report series. The following are appended: (1) Technical Notes and Glossary; and (2) Standard Error Tables. (Contains 31 tables and 3 figures.)