In November 1992, the Ford Foundation published a study entitled "State Higher Education Systems and College Completion," which argued that states that relied heavily on community colleges in their postsecondary educational system, such as California, Florida, Illinois, Indiana, and Wisconsin, were not efficient in producing bachelor degree (BA) graduates. This paper provides a review of the findings, recommendations, and limitations of the Ford Foundation report. Following an overview of the study conclusions, the paper offers a critique of findings in six sections. The first section discusses the study's evaluation of the proportion of high school graduates continuing their education, suggesting that the conclusions of the study did not provide adequate explanation of the data. The second section focuses on the relationship between freshman enrollment at four-year campuses and BA attainment, arguing that the data from the five sample states simply do not support the study's suggestion that a higher proportion of first-time students at baccalaureate campuses leads to a higher proportion obtaining degrees. Section 3, dealing with ethnic enrollment and attainment, highlights the study's inability to draw a conclusion based on the data gathered. Section 4 suggests that the transfer rate formula used was deceptively low and that the study's conclusions were unsubstantiated by any data. Section 5 discusses the effect of the College-Level Academic Skills Tests on BA attainment rates. The final section describes discrepancies arising from the study's investigation of the relationship between funding capacity and bachelor degree attainment. (MAB)