Doubts and misgivings have resulted from the rapid growth and diversity of experiential programs and the use of experiential learning assessment as a recruiting and marketing device. The Council for the Advancement of Experiential Learning (CAEL) is the body examining what is being done about setting standards for the assessment of experiential learning; this document represents CAEL's study approach to ascertain present practices, review the literature, filter the findings through author's experience with assessment, and develop principles that colleges and universities can use in establishing standards for assessing experiential learning. Experiential learning is divided into two major types: (1) sponsored--occurs under the auspices of a college or university and is planned or supervised such as a public service internship, cross-cultural experience, or career or occupational development and (2) nonsponsored--occurs before enrollment in a higher institution; includes such things as work (computer programming), life accomplishments (public speaking), or community service (chairing a charity campaign drive). (Author/CE)