A guide to granting undergraduate college credit for knowledge and skills obtained by students outside the classroom, the book describes useful techniques, examines programs nationwide, identifies major obstacles to implementation, and proposes solutions. Material for the book was gathered mainly from interviews with faculty/administrators and students at 14 representative institutions and a survey of State governing boards or coordinating commissions of higher education for senior/community colleges. The first chapter examines need and academic rationale; Chapter 2 discusses basic decisions regarding what is to be credited, costs, and faculty compensation. Chapter 3 is directed to the development of forms and records, counseling sessions, and assessment seminars. Chapter 4 on documentation discusses transfer credit, standard examinations, third-party validation, and the Continuing Education Unit and provides various examples of instructions for student narratives and two sets of exemplary portfolio preparation instructions. Chapter 5 covers criteria, trust and student input, use of the student narrative, and student appeals. A concluding chapter outlines basic institutional guidelines for awarding credit for prior learning and recommends the establishment of a national center for the assessment of prior learning. A listing of institutions/programs from which written guidelines were received and a bibliography are appended. (EA)