The labor market for persons who continue their education beyond high school is projected for 1985. After a brief discussion of the probable changes in the occupational distribution of new entrants by occupation, attention is directed to likely trends in wages of younger workers. Also considered are projections concerning underemployment of college graduates and competition between the sexes. The possible impact on college enrollments of the deteriorating job opportunities for postsecondary graduates is also addressed, and information on financial aid/subsidies for students by income level are included. It is concluded that career prospects will likely be more limited than in previous years for those who attend or complete college. It is suggested that persons who fail to complete college will gain little economic advantage from their brief postsecondary education. However, college graduates, and especially those who obtain a graduate degree in a professional field, will continue to gain a significant, but diminishing, economic advantage, as well as better access to good jobs. It is doubtful that the number of persons who enroll in higher education will decline as a result of these unattractive job prospects. However, students may tend to enroll part-time or attend low-cost schools. (SW)