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The purpose of this quantitative study was to investigate the relationship between female leadership and graduation rates at higher education institutions based on factors including race and gender. Feminist theory provided a critical lens to examine how power, privilege, and gender influence leadership in higher education. Because feminist theory challenged patriarchal structures, it allowed for redefining leadership with emphasis on collaboration, inclusivity, and diversity. The study used quasi-experimental, quantitative research to investigate the results on two national surveys, the American College President Survey 2023 edition involving college and university presidents and Integrated Postsecondary Education Data System (IPEDS) surveys involving data from over 5,000 higher education institutions. Both surveys collected data via web-based data collection systems. Correlational and casual-comparative designs examined the role of female leadership on graduation rates in higher education and allowed a review of college presidents by gender in correlation with completion rates. The primary research questions looked at the relationship between female leadership and graduation rates based on three criteria: gender of the student, race of the student, and gender of the college or university president. Both surveys are national and conducted in the United States (US). The results of the study did not show any statistical significance between female-led institutions and graduation rates by race or gender, but offered insight into future areas of research that may influence graduation outcomes.