This report uses data from the National Education Longitudinal Study of 1988 to examine 1992 high school graduates' access to postsecondary education in 1994, 2 years after high school graduation. An overview of the postsecondary enrollment rates of graduates by family income, race/ethnicity, and parental levels of education is followed by an analysis of the factors associated with the relatively low four-year college enrollment rates of Hispanic, black, and low-income students. The findings include: (1) the differences by income and race/ethnicity in the four-year enrollment rates of college-qualified high school graduates are eliminated among those students who have taken college entrance examinations and completed an admission application; (2) high school graduates with low-income parents are able to attend four-year colleges at the same rates as students from middle-income families, if the low income students follow the usual requirements for consideration and admission; (3) college-qualified low-income students, once accepted to four-year colleges, are as likely to enroll as middle- and high-income students; and (4) barriers to a four-year college education for low-income high school graduates appear to include low educational expectations and poor academic preparation. Appendix A is comprised of a glossary and Appendix B is comprised of technical notes and methodology. (JLS)