Empirical educational research nearly universally tacitly assumes that people attend college only in order to improve their likely earnings. Thus, it ignores the immense cultural importance ascribed to education (and particularly higher education) in modern culture, or at least proceeds as if this cultural valorization is irrelevant to individuals' educational decision-making. I first review how an economistic model of action informs all dominant theories of educational decision-making, and then suggest how institutional theory can provide a richer account of the college transition. Drawing on in-depth interviews with first-time, first-year community college students, I illustrate this approach through a 'thick description' of individuals' emerging educational orientations. I find that attending college reflects both instrumental goals and moralized conceptions of educational attainment. The decision to attend community college was informed by conceptions of college costs, a limited understanding of grant aid, and loan aversion. And I identify three educational dispositions among entering community college students which map onto institutionalized organizational pathways through the community college itself.