The purpose of this study is to identify student and institutional characteristics that influence the probability for graduation. The study delves further into the probability for graduation by examining how far the student deviates from the institutional mean with respect to academics and affordability; this concept is referred to as the “match.” The validity of the matching model is tested using a multivariate analysis with select variables from the Beginning Postsecondary Study: 1996/2001 (BPS:96/01) and the Integrated Postsecondary Education Data System (IPEDS). Traditional multivariate models examine the importance of both student and institutional characteristics but assume the two are independent of one another. This study is different in that it uses the matching model to examine the relationship between student and institutional characteristics. The results are compared to more frequently used models and show that the relationship between students and their institutions plays an important role in understanding the probability for graduation.