This study explores the influence of college students' socioeconomic background, characteristics of their home university, undergraduate educational experiences, and interaction terms of the main variables on their decision to pursue the graduate degree. The sample was constructed by linking the results of the KELS(Korean Educational Longitudinal Survey) 9th four-year college student survey and the 10th to 12th graduate student survey (N=1,566). On this sample, cross-sectional analyses, independent group t-tests, and binary logistic regression analyses with graduate school enrolment as the dependent variable were conducted. The analysis shows that parents' willingness to pay for graduate education, graduation from a public university, high grades in major courses, major-aptitude match, home university location - governance type interaction term have statistically significant positive effects on the decision to go to graduate school. Additional binary logistic regression analyses were conducted on various student groups with different characteristics. Based on the results, the main variables are discussed and policy implications are presented.