This study examines four-year college graduates who attended Central Piedmont Community College (CPCC) in North Carolina after obtaining their baccalaureate degrees, exemplifying a growing population of "reverse transfer" students. The study employed a telephone survey of the four-year graduates attending CPCC, an analysis of student records to describe the enrollment trends of this group over a ten-year period, and a review of research literature. Findings show that four-year graduates account for about ten percent of all community college credit students. In the research literature, the typical baccalaureate reverse transfer student is male, over 40, employed part-time, and white. However, in the CPCC study, the majority of reverse transfer students were female. Students attended community college for career reasons, although many enroll for personal self-enrichment, and most had four-year degrees in career, not liberal arts, areas. Most had considerable work experience, with many employed in professional and managerial roles prior to enrolling in community college. This trend of baccalaureate reverse transfer reflects the restructuring of the American economy. Individuals are increasingly being asked to abandon the concept of a single vertical career ladder and to recognize that viable careers can be horizontal and discontinuous. Contains 23 references. (AS)