COLLEGE ON THE CHEAP

How I Saved $12,012 and Over a Year of College

CLEP exams give you credit for knowledge you already have without paying tuition and sitting through classes

A Bachelor’s Degree typically takes 4 years and is expensive. The average cost of four years of college at an in-state public college is $40,464. Want to go out-of-state? You’re looking at $90,308. Private school? Forget about it — $147,204. (Source)

There are common ways to reduce the bill like scholarships and need-based aid. Even so, many people leave college with tens of thousands of dollars of student loan debt.

I’m here to spread the word about a less common method to save money on college bills. And the best part of this one — you can also save a lot of time. I’m talking about the CLEP.

I took 9 CLEP exams and passed 8 of them. They earned 39 credits, saving me about $12,000 and almost a year and a half of college.

What is The CLEP?

The College Board runs a program called College-Level Examination Program (CLEP). Here’s the basic idea — if you already have a thorough knowledge of a subject, like Biology, why should you have to sit through a semester of classes to “learn it again?” All you have to do is take a 90–120-minute test that costs $89 (plus a small scheduling fee from the testing center). If you pass, you are awarded the credits. It’s that simple. You save a semester of that class and whatever it would have cost you. The more tests you take, the more credits you stack up. It’s easy to see how this can save you a lot of time and money.

“An adult student who earns 15 CLEP credits to apply toward a degree could save nearly $5,000 at the average public 4-year institution and more than $17,000 at the average private nonprofit institution.” (College Board)

Is A CLEP In Your Future?

The College Board offers 34 different CLEP exams in a variety of common subjects. I’ve included a list of all available tests towards the end of this article.

Not every school accepts CLEP credits, but according to the College Board, more than 2,900 schools do. Of those, some accept many CLEP credits and some will only accept a few. You can check your school’s policy at the College Board website or search your school’s website for the most up-to-date information. If your school does accept credits, it’s also important to make sure the tests you want to take fulfill requirements for your degree.

The College Board produces CLEP exam guides and practice tests to help you prepare. You can buy those for about $25 or borrow them from most libraries for free. You take an exam on a computer at an official testing center. The College Board provides a testing center search tool for convenience. For most of the tests, you’ll get your results right when you complete the exam.

Don’t worry too much about failing. I didn’t prepare properly for one test and failed it. According to the policy, I simply had to wait a few months to take it again. I prepared better the second time around and passed.

Example — This Could Be You!

It’s the end of twelfth grade, and Lucy will be starting her Computer Science degree at a community college in the fall. She’s always been a reader and is an accomplished writer. When she thinks about her first year, she’s nervous about the required math, but she knows she’ll have no trouble acing the English requirements. She just wishes she didn’t have to spend so much time in those classes when she already has the knowledge.

At an early orientation meeting, Lucy finds out the school will apply up to 30 CLEP credits to her degree. Well, there’s her solution. When she discovers the College Board offers CLEP exams related to reading and writing, she thinks she might be able to save half a year of classes.

After reviewing some basic practice questions online, she’s confident she can pass the College Composition, Analyzing and Interpreting Literature, and American Literature exams. The first two can be applied to her core English requirements, and she can use the American Literature exam as elective credits. Each exam is worth 6 credits at her school, for a total of 18 credits. A productive summer and $350 later, Lucy earned 18 credits and a semester of her life back.

But now she’s caught the bug! She’s always been intrigued by psychology anyway, so she studies the CLEP study guide over winter break and earns 3 more elective credits.

Using knowledge she already had and a few weeks of studying, Lucy earned 21 credits, almost a semester and a half of time, and saved about $5,000.

Full List of Offerred Exams

Business:

Financial Accounting
Information Systems
Introductory Business Law
Principles of Management
Principles of Marketing

Composition & Literature:

American Literature
Analyzing and Interpreting Literature
College Composition
College Composition Modular
English Literature
Humanities

World Languages:

French Language: Levels 1 and 2
German Language: Levels 1 and 2
Spanish Language: Levels 1 and 2
Spanish with Writing: Levels 1 and 2

History & Social Sciences:

American Government
History of the United States I: Early Colonization to 1877
History of the United States II: 1865 to the Present
Human Growth and Development
Introduction to Educational Psychology
Introductory Psychology
Introductory Sociology
Principles of Macroeconomics
Principles of Microeconomics
Social Sciences and History
Western Civilization I: Ancient Near East to 1648
Western Civilization II: 1648 to the Present

Science & Mathematics:

Biology
Calculus
Chemistry
College Algebra
College Mathematics
Natural Sciences
Precalculus

Action Items

Is taking a CLEP exam right for you? Get started with this checklist:

Are you knowledgeable in any of the above subjects already?
Do you happen to speak one of the languages offered anyway? If this applies to you, it’s one of the easiest ways to earn credits.
Are there any subjects that you’re interested in, passionate about, or would be easy for you to learn?
Does your college or university accept the CLEP exam subject you’re interested in taking?
Search your school’s policy at the College Board and verify it with your school.
Does the CLEP exam I’m interested in taking fulfill a degree requirement? Make sure to verify this with your school’s official policies or guidance office.
Check if your local library carries CLEP study guides.
If there’s an exam you’re interested in, check out its description on the College Board site. Some of the exam pages have an online sample quiz so you can see how you measure up. Go on! Give it a shot — it might be easier than you think.

Additional Resources

Modern States — Modern States is non-profit dedicated to making a high-quality college education free and accessible for anyone. They have a program called Freshman Year for Free. As part of that program, they’ve created comprehensive courses to prepare students for the CLEP exams. If you complete one of their courses and practice questions, they will actually pay the CLEP exam fee. Yes, you read that right. You can get these credits absolutely free.
examIam — ExamIam develops practice tests and resources for CLEP exams in partnership with The College Board. You get access to their practice tests for one exam for a $14.99 fee.

If you know anyone who is in or heading to college and want to save them time and money, please share this article with them.

This article is for informational purposes only, and it should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.