The principal means of accessing admission into higher educational institutions in Nigeria is the Unified Tertiary Matriculation Examination (UTME) carried out by the Joint Admission and Matriculation Board (JAMB). The total number of candidates looking for admission into the different Nigerian institutions of higher learning has been on the increase over the years. The main motivation behind setting up any Open Distance Learning (ODL) institutions in Nigeria is to give a scope of chance to admittance to advanced education to students who, for one explanation or the other, really like to have their schooling in a more adaptable way. Moreover, the low admission limit of Nigerian universities for full time studies places a limit on the number of prospective learners who can be admitted into universities thereby making a monstrous hole between the people who want higher education and the framework accessible to cater for their necessities. The National Youth Service Corps (NYSC) scheme is an obligatory programme set up by the Nigerian government to include graduates of Nigerian educational tertiary institutions who are 30 years and below with the aim of promoting national unity and integration as well as to contribute to the accelerated growth of the national economy. However, graduates of open and distance learning institutions in the country do not take part in the NYSC programme. An attempt is made in this paper to investigate the level of preparedness and interests of ODL students and their disappointment in their exclusion from the programme. To achieve this, a descriptive survey research design was adopted for the study with a random sample of 201 respondents comprising 114 male and 87 female distant learners within the stipulated age for the NYSC scheme. A researcher-developed questionnaire was used to gather data from respondents. Four research questions were raised and three hypotheses were tested at 0.05 level of significance. Data gathered were analyzed and presented using figures, simple percentages, frequency tables and the Independent T-test. The findings revealed that 98% of respondents believe that they are prepared for the NYSC scheme, while 2% of respondents are not prepared. 99% are interested and 97% are disappointed at their exclusion from the scheme. No significant gender difference was observed in the level of preparedness, extent of interest and degree of disappointment in exclusion from the scheme among respondents. The study recommends a collaborative effort of ODL institutions and their counselling units in addressing anxieties and disappointments among students. The study also advocates a review of government’s policy on the NYSC scheme for possible inclusion of young graduates of ODL institutions in the scheme.