Is the US producing too many PhDs? Does the current graduate education system adequately prepare science and engineering students for today’s marketplace? How do foreign students enter the picture? What should be the PhD of the future? These and other questions are addressed in this book by a blue-ribbon panel of scientists and engineers. Recommendations are aimed at creating a new PhD that would retain the existing strengths of the current system while substantially increasing the information available, the potential versatility of students, and the career options afforded to them by their PhD education.