Models for assessing prior learning or noncollege learning are discussed. The increasing variety of interests, ages, and levels of maturity among prospective college students requires that higher education institutions face the issue of granting credit for noncollege learning. It is suggested that the key issue for colleges and universities is how to recognize the learning that takes place, how much credit to award, and a lack of funds to carry out the process. Examinations are discussed as a means of awarding credit for work done outside the confines of a traditional college or university. Special evaluation by a panel of experts may also be used. Individualized degree programs are also discussed as offering opportunities for noncollege learning. The use of a student portfolio from which the learning component of the experience can be assessed is described. A sample degree program designed by a 50-year-old student is provided and the awarding of credit for the student's prior learning is explained. The role of evaluators (institution faculty and outside evaluators) is also discussed as well as ideas on how to finance assessment expenses. Advantages and disadvantages of noncollege learning are discussed for both the student and the institution. It is suggested that an institution that grants standing for noncollege learning will be able to recruit more students and enroll a heterogeneous student body. (SF)