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This study is an article extracted from "Studies in Family Planning", special issue on Adolescent Sexual and Reproductive Health in Sub-Saharan Africa, published in December 2008. It examines transitions in schooling, sexual activity, and pregnancy among adolescents and young adults in urban South Africa. Data are analyzed from the Cape Area Panel Study (CAPS), a recently collected longitudinal survey of young adults and their families in metropolitan Cape Town. We find that teen pregnancy is not entirely inconsistent with continued schooling, especially for African women. …