At the undergraduate level, life credit may be the one area which adult students are the least familiar with and could really utilize to their advantage to save money on college. Life credit is available at most accredited colleges at the undergrad level, but harder to find at the graduate level.
Life credit bears many names. It is also known as life experience credit, achievement credit or even experienced-based learning. You will need to know the terminology to research at the college's student admission department where you plan to attend. Most times you apply for the degree first and afterward you apply for life credit.
Simply defined, life credits are work or life experiences translated into college credit. Credits that may be eligible are certifications/licensure, military experience, examinations, work experience, ministry, or corporate training.
You must be able to prove this experience to the potential college and how you prove it varies by the college. For example, you may be asked to submit a portfolio, take an examination, write a paper or submit copies of exams/certification records and/or classes taken to be considered, depending upon the university. Each university has specific requirements. Some requirements might be, you must be over the age of 25; you must have at least 4 years of work experience similar to the degree in which you are applying; you must submit records of training related to the degree, or military records. So be sure to inquire about the policy at the college you will be considering. Also, be aware that some colleges charge you for the evaluation of the portfolio.
Different colleges also allow different numbers of transfer credit, but I have seen them allow up to 21 life credits, which transfers to about 7 college courses at the bachelor degree level.
Your information is then assessed and if you qualify, then you will potentially save money and time in the long run.