Abstract. The impact of race on college and university admission and award decisions is examined using data from the National Longitudinal Study of the High School Class of 1972. The effects of race and other factors on the choice of an individual's educational attainment are also studied. Financial aid award equations are estimated. The results indicate that college and university admissions departments have actively worked to encourage the enrollment of African‐American students. It appears that the lower average educational attainment of African‐Americans is the result of differences in parental income, education, and geographical location.