Based on the data obtained in the "High School and Beyond" (HS&B) national longitudinal survey of 1980, dropouts, regardless of race, are significantly more likely to attain less economic independence and social mobility than are graduates or at risk graduates. Education is the most important factor in predicting a youth's future prospects. Racial comparisons among Whites, Blacks, and Hispanics are provided in statistical charts highlighting four major findings: (1) non-graduate females, married or not, are six times as likely as graduate females to have children; (2) non-graduate females are nine times as likely as graduate females to be on welfare; (3) non-graduates are at least four times as likely as graduates to engage in unlawful behavior; and (4) non-graduates are more likely to be unemployed. Future implications for public policy are considered with respect to education, employment, and budget. Definitions of terms are included. (AO)