The averaged freshman graduation rate provides an estimate of the percentage of high school students who graduate on time. The rate uses aggregate student enrollment data to estimate the size of an incoming freshman class and aggregate counts of the number of diplomas awarded 4 years later. The incoming freshman class size is estimated by summing the enrollment in eighth grade in one year, ninth grade for the next year, and tenth grade for the year after and then dividing by three. The averaging is intended to account for higher grade retentions in the ninth grade. Although not as accurate as an on-time graduation rate computed from a cohort of students using student record data, this estimate of an on-time graduation rate can be computed with currently available data. The averaged freshman graduation rate was selected from a number of alternative estimates that can be calculated using cross-sectional data based on a technical review and analysis of a set of alternative estimates (Seastrom et al. forthcoming). This report presents the averaged freshman graduation rate (AFGR) for public school students for two school years--2001-02 and 2002-03. The data for this collection were reported to the National Center for Education Statistics (NCES) by state education agencies (SEAs) and represent high school graduates between October 1, 2001, and September 30, 2002, and between October 1, 2002, and September 30, 2003. (Contains 3 tables.)