A great majority of parents, teachers, and guidance counselors are reluctant to consider grade skipping or early college entrance for students of exceptionally high ability, usually out of sincere concern for their academic preparedness or social well-being. Meanwhile, these students are typically bored with their curriculum, craving academic challenge, and finding that they share more in common socially with older students of a similar mental age. This session examines four decades of research concerning grade skipping and early college entrance, outlining exactly what we know about its academic and social effects. Is it time to re-evaluate our basic assumptions?