Evidence indicates that college grades have increased on the average and that the college-bound population has decreased in traditional kinds of academic skills, based on observed declines on the Scholastic Aptitude Test (SAT) and the American College Test (ACT). But the relationship between these traditional skills and grades appears not to have changed. It is speculated that, despite the increase in average grades, the reliability of the grades awarded by college professors has not diminished. If either grades or test scores had decreased in reliability, then the correlations between the two would probably have decreased. The test score reliability is carefully maintained. Whatever the case, the impact of grade inflation and score decline can probably be anticipated. Already there is evidence that grades are beginning to deflate. And with the wide-spread public concern about test score declines, it may be expected that these will begin to level off and even to rise in the next few years.