This paper describes the Australian Open Learning Initiative (OLI), a program to facilitate access to postsecondary education. The program will provide off-campus or distance education courses for which there is evident high demand. Program features include an independent brokering agency, coordination by a university or group of universities, provision of degree courses from existing accredited programs, awarding of degrees having parity with existing higher education degrees, availability of courses through television and other distance education means, and regulation of fees. An opening section describes the OLT proposal in detail. A following section describes the origins of OLI at the University of Queensland and Monash University, its appeal to and support from government, and its development to the present form. The third section analyzes the costs and benefits of the program, focusing on fees and the costs and benefits to universities at different scales. The closing section offers cautionary thoughts on the initiative in the areas of cost, expectations which may be unrealistic, attitudes toward technology, quality of materials, rate of implementation, and institutional cultures. OLI benefits are increased student access, rationalization of effort, credit transfer, articulation between sectors, pioneering technological developments, community presence, and enhanced learning materials. (JB)