This study explores the factors that affect Latino college student experiences in the first year of college and adjustment in the second year of study when many minority students dropout. The study examined data from five primary sources and focused on Latino college students who were semifinalists for a national scholarship award. The National Survey of Hispanic Students, a comprehensive longitudinal survey of college student experiences, was sent to students in the cohort in summer 1991. Fifty-nine percent responded. A follow-up survey and the Student Adaptation to College Questionnaire (SACQ) was sent in early 1993 and netted a 57 percent response. Other sources included the Integrated Postsecondary Education Data System, "The College Handbook," precollege surveys, and institutional files at the Higher Education Research Institute (University of California, Los Angeles). Results included: (1) Chicanos were significantly less likely than other Hispanic ethnic groups to score high on social adjustment in the second year of college; (2) no other student background characteristics including high school grade point average, were significantly related to college adjustment; (3) students attending large institutions reported high social adjustment and attachment; (4) students attending private colleges tended to score higher on SACQ measures; and (5) perceptions of a student-centered faculty and administration were associated with better academic adjustment. Five tables display data. (Contains 32 references.) (JB)