This Policy Information Report chronicles the experiences, aspirations and outcomes of Black students attending historically Black colleges and univerisities (HBCUs). The study finds that these students are more likely than their counterparts at other postsecondary institutions to plan on continuing their education into professional or graduate school and, once enrolled in graduate school, to choose engineering, business, or the sciences as their field of study. The history of the HBCUs prior research on their effectiveness, and implications for educational policy are also discussed.