A study was designed to investigate the complex interrelationship of factors that affect university students' academic achievement. The study used a sample population of 72 students who were enrolled in first year Nursing and Teacher Education courses in 1991 at the Flinders University of South Australia. From data gathered over 2 years, a two-wave path model was constructed to permit examination of the development of the student's learning processes over time and in conjunction with other antecedent predictors of achievement. Analysis indicated that it is the older students who possess many of the attributes that will equip them for future success. As a group, these older students demonstrated an internal locus of control and a learning style profile that reflects characteristics valued by graduate educators including high levels of motivation, persistence and responsibility, along with adaptability to varied learning environments and independent study skills. Results suggest that older students already have highly developed meta-cognitive processing skills. However, in most universities it is likely that the majority of first year students are not older students. Emerging evidence suggests that learning processes do play an important early role in directing student progress through the university. (Contains 33 references.) (JB)