The faculties of the University of Hagen award undergraduate, graduate and postdoctoral degrees and enable habilitation.

[7] The university has produced many notable alumni in the fields of law, economics, business and politics, among them two Gottfried Wilhelm Leibniz Prize winners,[8][9] 1 Gossen Prize laureate,[10] at least 25 university professors, numerous members of the German parliament, and the former Foreign Minister and Vice Chancellor of Germany, Guido Westerwelle.

Lifelong learning, further education concurrent with work, along with the necessity to relieve the overcrowded on-campus universities have been important topics in the early 1970s.

Under the NRW-Foundation Law of 1 December 1974 the "pioneers" from academia and administration had only ten months for preparing the new university, so that 1,300 students could embark on their studies from winter academic term 1975/76.

The university is organised into five faculties: Initially, FernUniversität's departments were housed in rented apartments and buildings located all over Hagen and even outside the city.

The development of FernUniversität's campus near the roadways A 45 and A 46 began in 1980 with the first office building Allgemeines Verfügungszentrum (AVZ I).

The University of Hagen provides the opportunity to study for a PhD on a part-time as distance option, or a full-time on-Campus basis in all of its disciplines offered.

The university also offers a range of Master's levels modules such as the MBA, MSc and M.A., as well as the German Staatsexamen for its law degree.

Additionally, the University of Hagen offers presence classes and special seminars, some of which are required to graduate successfully.

The standard time required to finish a Bachelor's degree's course load of 180 ECTS in full-time study is set at six semesters.

Interdisciplinary and cross-faculty collaboration leads to the grouping together of competencies and to the formation of competitive research focal points.

Furthermore, exchange of technology and knowledge is conducted through a variety of cooperation projects between science and industry, ranging from final theses by arrangement with the individual employer to commissioned research.

Moreover, joint development of academic further education programs with companies, associations and scientific institutions contributes to the interlinking of academia and practice.