In this study, the authors examined the college-ready graduate rates of all students (n = 1,099 high schools) in the State of Texas for the 2006-2007 school year. Data were analyzed for students' scores in reading, in math, and in both subject areas combined. Approximately one-third of all students were determined to be college-ready in both subject areas. Statistically significant and practically relevant differences, reflecting moderate to large effect sizes, were present in reading, math, and both subjects among Hispanic, African American, and White students. Concerns are expressed about the lack of preparedness of students for college and about the presence of strong achievement differences as a function of ethnicity. Implications of these findings are discussed. (Contains 2 tables.)