PT - JOURNAL ARTICLE AU - Boatman, Angela AU - Hurwitz, Michael AU - Lee, Jason AU - Smith, Jonathan TI - The Impact of Prior Learning Assessments on College Completion and Financial Outcomes AID - 10.3368/jhr.55.4.1117-9167R2 DP - 2019 Mar 08 TA - Journal of Human Resources PG - 1117-9167r2 4099 - http://jhr.uwpress.org/content/early/2019/03/05/jhr.55.4.1117-9167R2.short 4100 - http://jhr.uwpress.org/content/early/2019/03/05/jhr.55.4.1117-9167R2.full AB - This paper estimates the impact of the College Level Examination Program (CLEP), an exam that offers credit for student competency in a content area in lieu of completing a course. Using a regression discontinuity design, we find that passing a CLEP exam leads to a 5.5 percent increase in degree completion and 1.6 percent increase in estimated income. The college completion results are notably strong for students who traditionally struggle to graduate and are often hard to track in education data, including two-year and for-profit enrollees and students in the military, students older than 24, underrepresented minorities, and homeschoolers.