The transfer of students in Missouri is multi-directional; that is, some level of transfer activity occurs between and within each major sector of higher education. The number of student transfers has risen from 15,500 in fall 1979 to 18,000 in fall 1982, with a peak of 20,000 transfers reported in fall 1981. The majority of student transfers (more than 10,000 annually) involve Missouri residents attending public and independent colleges and universities. Of these, approximately 70% occur among public sector institutions. An analysis of transfer activity for the 4-year period from fall 1979 to fall 1982 reveals the relative stability of transfer relationships among and within sectors, with two exceptions: in fall 1980 and fall 1981 there was a significant increase in transfers from public four-year institutions to public two-year institutions, and there was a substantial increase in the number of transfers from independent to public two-year institutions between fall 1979 and fall 1980. In total, transfer students account for 10% of undergraduate enrollment at public and independent institutions, and for approximately 40% of first-time entering students. The greatest percentage of students transferring from the University of Missouri and the state universities tranfer to community colleges, and most students transferring to a state college come from a community college. The bulk of the report consists of graphs and tables showing transfer activity and trends. (LAL)