This paper discusses degree attainment statistics and their analyses, particularly when applying time censors to the equation. The author describes at the High School and Beyond Sophomore Cohort Longitudinal Study, which followed a high school graduating class of 1982, from the time of its graduation until 1993, when most of the cohort was 29 or 30 years old. The paper suggests that, when analyzing degree attainment statistics, a long-term censor, something beyond 5 or 6 years, should be utilized. He also argues that degree attainment rates can only be determined using a cohort of students who have actually enrolled at some point in a bachelor's degree-granting institution. Graduation rates are determined by student persistence, and may involve more than one institution; thus, system graduation rates are more significant than institutional graduation rates. The author goes on to argue that students use community colleges for many reasons, not all of which are connected to the need to acquire credentials. For instance, students may acquire a number of credits in courses related to computer technologies in order to enhance their job marketability. The author concludes that any evaluation should focus on the student before the institution. (NB)