Many students -- as well as potential students -- have acquired a great deal of learning through their day-to-day lives outside of academia: knowledge acquired from work experience, on-the-job training, formal corporate training, military training, volunteer work, self-study, and a myriad of other extra-institutional learning opportunities available through low-cost or no-cost online sources. Colleges and universities have the option to evaluate that knowledge for the purpose of awarding credit or otherwise recognizing the learning so that it can count toward a degree or credential. The methods that colleges use to evaluate this learning are typically referred to with terms like recognition of prior learning, credit for prior learning, and prior learning assessment (PLA). The Council for Adult and Experiential Learning (CAEL) and the Western Interstate Commission for Higher Education (WICHE) have completed the bulk of the work on a research project that is likely the largest and most comprehensive study of the relationship between student outcomes and PLA. The two organizations partnered with 72 institutions to analyze de-identified student-level longitudinal data and institutional policy and practices. Additionally, the team interviewed staff and students from a select number of the participating institutions. While the full report will be released in summer 2020, this brief shares some of the findings that illustrate the value of PLA, and also offers recommendations.