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Data from the 1970 wave of the NLS of Young Men and Young Women are employed to estimate the foregone earnings of college students. The basic methodology involves the estimation of earnings functions from male and female youths who are not enrolled in school, and the potential earnings of enrollees is derived by substituting the characteristics of enrollees into the earnings functions of the nonstudents. Actual earnings are subtracted from potential earnings to derive estimates of foregone earnings. The estimation procedure provides a range of estimates by employing alternative earnings functions and assumptions concerning potential hours per year. Self-selection bias, part-time vs. full-time enrollment, and levels of enrollment are also considered. Our results are then compared to other studies, and a projection of earnings foregone is made for 1975 and 1980.