The final report of an 18-month study on the undergraduate experience by the Massachusetts State Board of Regents of Higher Education is presented. The principal focus is academic matters, and one intention is to support requests for funding which, when combined with existing and reallocated resources, will form the fiscal basis for strengthening the undergraduate experience. Forty-four recommendations are made within 12 sections: access and admissions criteria (e.g. share information to improve student preparedness); assessing entry-level skills (e.g. mandatory assessment of students' basic skills); meeting the needs of students (e.g. required placement in developmental instruction); student support services (e.g. institutional data collection and analysis); standards for college-level work (e.g. courses to improve basic study skills); degree standards (e.g. standards for satisfactory academic progress); general education component (e.g. minimum requirements for general education); major and elective components (e.g. strengthening honors programs); assessing institutional outcomes (e.g. use of assessment to improve teaching and learning); professional development initiatives (e.g. state database and clearinghouse); technology in the classroom (e.g. improved access to equipment); and graduate teaching assistants (e.g. student access to faculty). Lists of members of the culminating study group, members of the planning committee, and members of the working groups are appended. Contains approximately 81 references. (SM)