Most studies that examine the prediction of graduation status among teens have examined those who attend regular high schools. The present study reports the prediction of high school graduation status 5 years later among 646 youth who attended alternative (continuation) high schools at baseline. Those youth at baseline who: (a) reported less intention to use soft drugs (cigarettes, alcohol, or marijuana) during the next year; (b) suffered relatively few drug-related consequences during the last year; (c) were relatively less likely to have carried a weapon (knife or gun) in the last year; (d) reported feeling relatively hopeful about the future; and (e) were older were more likely to self-report having graduated continuation high school 5 years later. These results suggest that the consequences of drug use, not drug use per se, other illegal behavior, and a sense of well-being are important predictors of graduation among groups of high-risk teens. Problem behavior and resiliency theories are offered as potential explanations of these findings.