On July 15, 1995, the RAND Graduate School held its ninth commencement exercises in Santa Monica, California. This Paper contains the commencement address given by Condoleezza Rice, Stanford University provost and professor of political science, and remarks made at the exercises by honorary degree recipients Lloyd Morrisett, Senator Sam Nunn, and Donald B. Rice. Also included are remarks made by Philip J. Romero, a 1988 graduate, and the remarks by student speakers Michael Dardia and Carolinda Douglass, Michael Shires, and Vladimir Shkolnikov. The paper also contains remarks made by Rob MacCoun, recipient of the Edwin E. Huddleson, Jr. Outstanding Teacher Award, and RAND's president, James A. Thomson, and by Charles Wolf, Jr., Dean of the RAND Graduate School.