The Higher Education Standards Framework 2021 and the Australian Qualification Framework (AQF) set out requirements for recognition of prior learning (RPL) and granting credit in the higher education sector. Credit is a recognition of equivalence in content and learning outcomes between different types of learning and/or qualifications. Credit can reduce the amount of learning required to achieve a qualification. This report discusses the standards and issues of recognition of prior learning in Australian higher education. [For "Guidance Note: Admissions (Coursework). Version 2.0," see ED621555.]