STUDENT CONSUMER ADVOCATES HAVE SINGLED OUT COMPLETION AND PLACEMENT DATA AS INFORMATION THAT STUDENTS NEED AND SHOULD HAVE. HOWEVER, IT HAS NOT BEEN DEMONSTRATED THAT THESE DATA ARE VALID INDICATORS OF INSTITUTIONAL ACCOUNTABILITY AND EFFECTIVENESS. MANY NONSCHOOL-RELATED FACTORS DETERMINE WHETHER A STUDENT COMPLETES TRAINING, GETS A RELATED JOB, AND STAYS WITH THAT JOB. THE STRENGTH OF THE EMPLOYMENT MARKET, THE ASPIRATIONS OF THE STUDENT, AND THE STUDENT'S BACKGROUND ARE AMONG THE FACTORS REFLECTED IN, BUT NOT DIRECTLY RELATED TO COMPLETION AND PLACEMENT RATES. IN ADDITION, THE STATISTICAL METHODS USED TO COLLECT AND PRESENT COMPLETION AND PLACEMENT DATA, TOGETHER WITH THE BIASES OF THE INTERPRETER, SHAPE CONCLUSIONS. SYSTEMATIC RESEARCH ON STUDENT NEEDS AND EXPECTATIONS IS NEEDED IN ORDER TO ASSESS THE RELEVANCE OF VARIOUS TYPES OF PLACEMENT AND COMPLETION INFORMATION. THE TECHNICAL PROBLEM OF HOW SUCH INFORMATION CAN BE DETERMINED ACCURATELY AND MEANINGFULLY BY INSTITUTIONS MUST ALSO BE SOLVED. FOR CONSUMER PROTECTION PURPOSES, COMPLETION AND PLACEMENT DATA ARE IRRELEVANT UNLESS THEY ARE PROPERLY INTERPRETED AND COMPARED. (LKM)