Earlier studies have compared the success of transfers and natives at graduation, but this investigator felt that a first-term grade point average would reveal more about the stress of adjustment to a new academic environment. He therefore compared the achievement, after one semester, of transfer students from the junior college, the state college, and the private 4-year liberal arts college to the state university, without regard to the achievement of native students. A random sample was drawn of 50 students from each source. If significant differences were found, they would have implications for curriculum planning and instruction at the sending institution. The university Admissions Office supplied the GPA at the end of each subject's first term. (These were not all for the same term, as the students began at different times.) Separate computations were made to test the significant differences, if any, in comparisons of (1) private with state college transfers, (2) private with junior college transfers, and (3) state college with junior college transfers. Although results showed that there were no statistically significant differences in success of transfers from the three types of institution at the end of their first semester, they did suggest that the junior college transfers are closer to academic difficulty than the other two groups and that the state college transfer students make a slightly better adjustment to the new academic pressure than the others. (HH)