Great to see. We hope other publishers do the same. Libraries can [our emphasis] choose to opt-in to the new license on renewing current subscriptions for 2013.
From a Company Announcement:
SAGE today announced a change to its licenses that will provide university alumni with access to the content hosted on the SAGE Journals, SAGE Research Methods and SAGE Knowledge platforms through their university library. All alumni registered with subscribing or purchasing libraries will be able to access all SAGE products including over 645 scholarly and professional journals at no extra fee.
University libraries already support current students and scholars with access to online resources through both on-site and remote services. This new license will extend this offering to alumni via secure authentication, with alumni being authorized by their institutions.
Read the Complete Announcement