This paper focuses on the activities of colleges and universities providing options for the assessment of prior learning for adult students. The paper emphasizes programs with associate and baccalaureate degree-granting institutions in the United States and Canada. It is aimed at faculty members, practitioners, administrators, and policy-makers, as well as agency or legislative personnel interested in this growing aspect of postsecondary education. An attempt is made to provide sufficient detail to answer questions most often asked by these audiences concerning the adoption of a policy on credit for prior learning and to suggest appropriate resources for further study. The practice of awarding credit for prior learning is traced in the first section. In the second, various approaches to assessing prior learning are surveyed; included in this section is information about credit by examination, credit recommendations for noncollegiate courses, individualized assessment (study orientation, portfolio preparation, measurement and evaluation of learning outcomes, transcription or recording of credit awarded, and other institutional policies), evaluators and faculty development, special interest areas, and costs and fees. The third section discusses quality assurance and program evaluation. The last section examines future directions and implications. Information about credit-for-prior-learning publications is included in the appendixes. (CT)