This paper addresses the question of benefits of education from a life course perspective. Using data from a study of 1600 students (response rate 48%) on an open access program at a London University college, it explores educational activity within the framework of a transitions model. In addition to the quantitative evidence, the article uses material from interviews to illustrate how different aspects of educational activity help individuals cope with transitions. This approach, while clearly not covering all possible education contexts, offers a way of adding to our understanding of the benefits of study in mid- and later-life. (Contains 3 tables.)