A study was done to examine the effect of study abroad experiences on undergraduate students both in their undergraduate years and afterwards. The study was a joint effort of U.S. and European educators and institutions, involved over 400 participants, and included a comparison group of students not undertaking a year abroad. The participating U.S. institutions were the University of California, the University of Colorado at Boulder, the University of Massachusetts at Amherst, and Kalamazoo College, Michigan. Results indicated that those who choose to study abroad and those who do not differ in predictable ways in cultural interest and domestic orientation; that not only academic but social and personal development are important parts of the international experience; that the time abroad has a significant impact on foreign language facility; that participants in the study abroad programs score higher than the comparison group on cultural interest and peace and cooperation indicators; that foreign systems of education meet with mixed responses; and that in later career choices none regretted their study abroad. Included are 13 tables, appendixes listing European coordinators, guidelines for occasional papers on international educational exchange, 28 published titles, and a list of 39 references. (JB)