The steps which led to the establishment of the Open University in Great Britain and the intentions of its founders are first described, with particular attention paid to the needs it was intended and not intended to meet. Following this is an examination of the evidence to date of the University's success in reaching its target student population. Included are data on the social and educational characteristics of the student body and a discussion of the staying power of students from different backgrounds. The third section of the paper provides an analysis of the instructional system of the University and the place of correspondence materials within that system. Also described are the fail-safe strategies aimed at helping students to avoid dropping out. Next, some studies are cited which compare costs in the Open University with those of conventional institutions in England. Finally, an assessment of the Open University's potential as an instrument of democratization is offered. (Author)