This study joins the current discussion of excellence in higher education by proposing criteria by which excellence can be judged and by describing a model by which it can be achieved. The model, called "The Paracollege," is an innovating cluster college at St. Olaf College. Like Oxford and Cambridge it features tutorial modes of instruction and comprehensive examinations but integrates these within the traditional American liberal arts college. Using interviews, survey results, and data from standardized tests to make his case, the author argues that during its 18 years of existence the Paracollege has proven to be a significant vehicle for personal development of students, personal and professional development of faculty, and curricular vitality for the whole college. Contents: include: Education for Excellence; What is the Paracollege; Student Development in the Paracollege; Faculty Development in the Paracollege; Curriculum; Institutional Impact; and Studies of the Paracollege's Effectiveness.