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There are Two Tiers of Open Access Publishing, Gold and Green.
GOLD Open Access - Authors can submit their works to a Peer Reviewed Open Access Journal for publication. 70% percent of Open Access Journals require no-fee. Costs for publication can often be paid by sponsoring institutions, scholarship dollars and support from departments and schools.
GREEN Open Access - Authors make their work freely available in a Digital Repository without need for Peer Review. These repositories do not provide peer review, but can still store content that has been peer reviewed. Repositories are not limited to traditional scholarship and can hold video, data sets, institutional records.