College can be an expensive investment. With many students graduating with larger student loan balances, finding ways to reduce the cost is valuable to many people. One option for some students is CLEP exams.

Attending college can be affordable if you test out of some classes.

What are CLEP exams?

These exams test your knowledge in several subjects ranging from accounting, English, History, and even foreign languages. These nationally recognized exams are overseen by College Board and administered at local colleges.

If you feel comfortable in a subject, you can take the exam, get credit for the classes, and pay only a fraction of the costs of taking the class on campus. A CLEP exam at my university is $80.

The College Board gives great tips on taking advantage of these exams:

Find out if your college accepts CLEP. Use theCLEP college search and talk to your admissions office, test center, or academic advisor.

Read descriptions of all 34 exams and decide which to take.

Register to take your exam(s) by contacting aCLEP test center and making an appointment.

Start studying. Get a college textbook and review sample questions.

Take your test!

How much can you save with CLEP Exams?

To show how much can be saved; I used the tuition prices of my university and compared it to ‘clepping’ 5 elementary courses (3 credits each).

The totals don’t include room and board, which would increase savings even more.

Here’s the amount of savings:

I think this is a wonderful option for some people. I’ve taken exams through CLEP and it does save money. The only drawback is that you have to send a transcript of your scores if you decide to transfer schools. If you’re trying to reduce your college expenses and possibly student loans, then this might be a viable option.

Photo Credit: neuroticcamel

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