The majority of freshmen entering California State University (CSU) system graduate, but most do not do so within four years. Graduating later has many costs--from the tuition and associated costs for extra years of schooling to forgoing years of entering the workforce--and students from low-income families as well as students of color are more likely to graduate later than their peers. Through system-wide policies like the Graduation Initiative 2025 and the California Promise Program, CSU is promoting strategies to help more students graduate on time. One key strategy is to support student efforts to take a full course load early in their college career. Using a combination of campus-wide and student-level data, the authors examine the relationship between course-taking and on-time graduation. This report presents the following findings: (1) Many students do not take enough units to graduate on time; (2) More students may graduate on time if they take a full course load in their first term and first year; (3) More freshmen are enrolling in full course loads, but gaps remain; and (4) Students in all groups benefit from full course loads, but in different ways. More students may succeed and get to graduation on time if California can find ways to incentivize and support full course loads. While campuses that have seen enormous changes in course-taking behavior can serve as models for others, all colleges must monitor opportunity gaps to ensure equitable course-taking and support for students who might need it. And as the state continues to adapt to COVID-19, colleges must focus on providing the necessary courses that will allow students to continue working toward their degrees. [This report was written with research support from Courtney Lee. For the technical appendices, see ED611441.]