International educators have long asserted that study abroad improves students' intercultural competence. However, the evidence is less clear than the rhetoric suggests. Examining longitudinal data from a national study of college students, this study explores the impact of study abroad on intercultural competence while accounting for a host of precollege characteristics, institutional differences, college experiences, and study abroad intent. Results challenge prior assertions and complicate our understanding of the educational impact of study abroad. (Contains 3 tables and 1 figure.)