This guide was developed in Alaska to help high school administrators and teachers determine why and how to grant equivalent credit graduation requirements for vocational courses. The guide is organized in four sections. The first section provides a rationale for the use of equivalent credits, explaining how they benefit students, teachers, administrators, and employers. The second section addresses some common concerns about equivalent credit, in a question-and-answer format. Some of the concerns examined include the relationship between equivalent credit and high school graduation requirements; the awarding of equivalent credit versus lowering standards; colleges and equivalent credits; polarization of the teaching staff; curriculum updating and staff development; the at-risk student; needs for additional space and staff; and recording equivalent credit on transcripts and in course descriptions. In the third section, a model process for setting up an equivalent credit system is outlined. Steps include reviewing local policies and guidelines; beginning with programs for which a strong case for equivalent credit can be built; establishing support groups; building connections between vocational and academic teachers; determining credit possibilities; disseminating information; and monitoring the process. The final section lists 20 references, and appendixes provide information on Alaskan graduation requirements and examples of the system in other areas. (KC)