Inflated grades were more common than depressed grades. In this analysis, over 40 percent of the 33,000 grades analyzed – more than 13,000 transcript grades – were higher than they should have been, while only 16 percent or 5,300 grades were lower than they should have been. In other words, two out of five transcript grades indicated that students were more competent in the course than they actually were, while nearly one out of six grades was lower than the student’s true understanding of the course content.