The Air Force Institute of Technology (AFIT) was asked to develop a graduate curriculum to support cost analysts in the acquisition arena in October 1980. The first class entered in May 1982 and graduated in September 1983 with Master of Science degrees in Systems Management. This degree program gained autonomy by offering its first true Master of Science degree in Cost Analysis in 1988. Now there are nearly thirteen years of graduate cost analysts (GCAs) in the workforce. This thesis examined the impact this program has had on these graduates and the Air Force. Surveys were mailed out to 73 of the 75 currently active-duty graduates in the classes from 1983 through 1994. Forty responses were received and evaluated. The general consensus is that the GCA program is very useful to the graduates and beneficial to their careers. The main strengths of the program include the ACEIT software training and the combination of Department of Defense (DOD) application, regression, and statistics. The weaknesses of the program include a lack of training to actually complete a cost estimate and a need for more in-depth education regarding budget topics. Overall, graduates believe this program could not be replaced by a civilian institution.