This state report card is derived from "Measuring Up 2004," the national report card for higher education. Its purpose is to provide the public and policymakers with information to assess and improve postsecondary education in each state. "Measuring Up 2004" is the third in a series of biennial report cards. The report card grades states in six overall performance categories: (1) Preparation: How adequately are students in each state being prepared for education and training beyond high school?; (2) Participation: Do state residents have sufficient opportunities to enroll in education and training beyond high school?; (3) Affordability: How affordable is higher education for students and their families?; (4) Completion: Do students make progress toward and complete their certificates and degrees in a timely manner?; (5) Benefits: What benefits does the state receive as a result of having a highly educated population?; and (6) Learning: What is known about student learning as a result of education and training beyond high school? Findings for Florida include: (1) Despite improvement over the past decade, Florida continues to lag behind most other states in preparing students to succeed in college. This year Florida receives a C in preparation; (2) Florida, over the past decade, has made no notable progress in the number of students enrolling in higher education. Florida receives a C in participation this year; (3) Over the past decade, Florida has made no notable progress in providing affordable higher education. Florida receives an F in affordability this year; (4) The proportion of Florida's students who earn a certificate or degree in a timely manner has improved over the past decade. Florida receives an A- in completion this year; (5) Over the past decade, Florida has seen an increase in benefits from having a more highly educated population. Florida receives a B- in benefits this year; and (6) Like most states, Florida received an Incomplete in learning because there are no comparable data that would allow for meaningful state-by-state comparisons in learning. This report also includes additional information, questions and answers, state grades, and "Measuring Up 2004" resources. [For "Measuring Up 2004: The National Report Card on Higher Education," see ED508096.]