This report investigates how well the education and training system in Australia meets the needs of children and young people - for all Australians and regardless of where they live or what school they attend. It focuses on milestones at the end of each of the main stages of learning and development: Early childhood years measured at the point of school entry; Middle years measured at entry to secondary school; Senior school years measured at the end of secondary school; and Early adulthood measured at age 24. Topics include engagement in early education and care, school readiness, student engagement and wellbeing, the widening gap from the early to middle years, international comparisons of achievement, those who improve and those who remain behind, the compounding effects of multiple risk factors, factors influencing achievement, retention and attendance, confidence and views on school, aspirational families, and participation in higher education, vocational education and training, apprenticeships, and the labour market. The report highlights that though many young people succeed at each key milestone at the end of the main stages of learning and development, a minority miss out - not yet sufficiently well-prepared to take on the challenges of the following stages of their lives.