This paper, which surveys the literature on minority underrepresentation in graduate school, examines how factors such as financial returns, limited financial support, lack of academic and social support affect minority students as they consider pursuing graduate education and try to complete it successfully. It also compares the difference between minority and majority students in incentives and rewards for completing graduate degrees, levels of degrees, indebtedness among recipients of baccalaureate, and types of support available to those considering graduate education.