The Ohio legislature adopted a Bill calling for an evaluation of the performance of academic programs of state-assisted institutions of higher education. The selection of criteria utilized in evaluation is critical. A list of criterion statements was compiled from materials on hand, from accrediting agency information, and out of the experiences and inquiries of the committee. This study attempts to develop criteria other than the two standard types: "cost-benefit" and "enrollment-driven." The model developed requires the identification of program objectives and relating those objectives to the expectations of the public to be served. A list of 33 criteria statements was developed by the committee and distributed to all department chairmen at the University of Toledo and to 1,116 students receiving degrees in June 1975. The responses were scaled and factor analysis used to determine the relationships among variables. The nine factors identified are: program size, understanding the program, description and objectives, academic standards, cost efficiency, innovative programs, employability, supportive nature of the program, public relations, and nonteaching work of the faculty. Comparison is made between department chairmen and students on these factors; of the scores for each factor for the department chairmen and students by college; and of scores for each factor for graduates and department chairmen by level of program. (JMF)