This report is an amalgamation of data from four separate sources. The first source is NACAC's annual Counseling Trends Survey, conducted in May 2004. The purpose of this survey is to poll counselors in high schools to discover trends in their work responsibilities, particularly regarding college counseling, and to assess trends that affect students making the transition from high school to college. The second is NACAC's Admission Trends Survey, conducted in August 2004. The purpose of this survey is to poll college admission officers to determine what factors are most important in the admission decision and to assess trends in admission office functions, staff, budget, and operations. More information about these two surveys is included below. The third source is the Common Data Set, which NACAC licensed for aggregate use from the College Board. The final source of data is the federal government, including data from the U.S. Department of Education and the U.S. Census Bureau. This report is organized into three parts. Part one, State of College Admission, presents the following chapters: (1) High School Graduation and College Enrollment; (2) Applications to College; (3) Admission Strategies; (4) Factors in the College Admission Process; (5) Homeschooled Students in Admission; (6) School Counselors and College Counseling; (7) The College Admission Office; and (8) Paying for College and Financial Aid. Parts II and III, NACAC White Papers, contain special research supplements: (1) Counseling and College Counseling in America's High Schools (Patricia M. McDonough); and (2) The Changing Landscape of Higher Education: The Future of College Admission (William G. Tierney). Individual parts of the report contain references. (Contains 72 tables and 29 figures.) [NACAC's survey was made possible in part by support from College Answer, powered by Sallie Mae.]