In 2006, the Board of Governors (BoG) revised Code Section 400.1.5 on "Improving Retention and Graduation Rates," asking each campus to consult with University of North Carolina General Administration (UNCGA) and establish goals for increasing these rates for the period 2008-09 through 2012-13. The goals included freshman-to-sophomore retention rates, four-year graduation rates, and six-year graduation rates for first-time, full-time freshmen. Also included are four-year graduation rates for North Carolina Community College System (NCCCS) transfers with an associate's degree. The definitions for graduation and retention rates adopt those used by the US Department of Education's for the Integrated Postsecondary Education Data System (IPEDS). Not all undergraduates are included in the traditional IPEDS-reported measures as IPEDS' metrics include only first-time, full-time freshmen enrolled in fall semester. Part-time freshmen, those transferring from one institution to another, and those enrolling in spring are not included. The outcomes for these excluded students are less well known. Beyond the information surrounding the BoG approved goals, this report provides additional measures of student success in the University of North Carolina system. [For the previous year's report, see ED586053.]