At Metropolitan State University, St. Paul, Minnesota, individualized undergraduate programs are designed by the students. Educational objectives are stated in terms of competencies achieved through life and work experiences, or during enrollment at the university. Two issues were central to this study: (1) the criteria to be used in judging the success of the university's students and its programs, and (2) those characteristics of students and programs which correlate with success. The resulting information may be used for student counseling, remedial aid, and program improvement. The results indicated that those Metropolitan University students who successfully completed degree programs shared many of the same characteristics of graduates of traditional programs. Those students tended to be over 30 years of age, women, married, white, have yearly incomes over $15,000, work less than 35 hours per week, have resolved conflicts between their studies and employment, have transferred from another four-year college, have entered with more earned college credits, have a good self concept, and be motivated by personal rather than external pressures. Characteristics of successful programs include: presence of work experience opportunities, satisfactory guidance and support services, flexible curricula, good philosophy toward structure and record-keeping, and maintenance of student interest. (GDC)