This speech, given on March 23, 1971, at a luncheon meeting of the Troy Rotary, presents an overview of the Regents External Degree. After presenting opening humorous remarks, the author concentrates on a description of the External Degree, as modeled after the English Open University. The remainder of his remarks concern the progress made through the College Proficiency Examination Program and how New York State intends to develop an External Degree Program. The External Degree will meet the demand for an increasing variety of postsecondary education, especially in view of the limited financial resources available within the traditional college campus. The Regents External Degree Program, by contributing to an educated citizenry, will also enhance the social and economic development of the state and provide social and economic mobility for the individual who is frequently barred from advancement in employment and increased social status because he doesn't have a degree. (Author/PG)