Among all the students who transfer from one institution to another during their academic careers, a distinct group of "reverse transfer" students has emerged over time. Reverse transfer occurs when students begin their college careers at 4-year institutions but eventually transfer into 2-year institutions. Using student unit record data from the state of Indiana, this study used regression analysis to identify student characteristics that influence reverse transfer. The authors discuss state and institutional policy implications of this nontraditional enrollment pattern. (Contains 5 tables.)