Results of a two-year study of the cost effectiveness of cooperative programs operated by voluntary consortia of colleges and universities are reported. The findings are demonstrated in such a way that the potential benefits of such programs can be more widely understood. Six consortia were studied, including a consortium of three Catholic liberal arts colleges, a consortium of one private liberal arts college and two state universities located in two states, and a nine-institution consortium of eminent theological schools, among others. Separate chapters consider: (1) cross registration programs; (2) library and media cooperation; (3) student services, such as financial aid programs and career planning and placement services; (4) group purchasing; (5) cooperative nontraditional higher education organizational structures and distance learning systems, and (6) cooperative academic programs. A summary chapter identifies common areas of cost benefit, such as diversity, access, financial advancement, and efficiency. Appended are papers on the methodology of analyzing the cost of interinstitutional cooperation. (PHR) and