A life experience degree can be a tool to get a better job or start a new career. In some cases it can be used for undergraduates seeking to enter a traditional school to pursue a graduate degree. It is based on actual experience in the military, work, education, travel or even community service.
A life experience degree is earned based on previous knowledge and experiences. In order to prove that you are competent in courses you need to pass to earn a degree, you must demonstrate that knowledge and those experiences through documentation, previous college credits, examinations and portfolios. For the less reputable schools that offer degrees, you may not have to undertake any evaluations, or you may only have to answer a few brief questions.
While cheaper than a traditional degree, a life experience degree can still cost you several thousand dollars to earn. The valid accredited institutions charge several hundred dollars per credit, with upward of over 100 credits being necessary to earn your degree. If you have previous credits from another college to transfer, it can cut down on the costs, but it can still be more expensive than expected. Less honest organizations that offer quick and easy degrees may still charge hundreds of dollars for you to "buy" your degree.
In order for a degree to be valid, it must come from an educational institution that is regionally accredited and recognized by the U.S. government. There are many organizations that offer life experience degrees and say they are accredited, but they are not accredited by the proper authorities and so their degrees are not truly valid. There are also organizations that say they are offering degrees based on experience but do not actually have you document any experiences or fill out any evaluations. These are likely businesses that are just looking for your money, especially if they offer instant approval. There are only three schools in the United States that are fully accredited for valid life experience degrees: Thomas Edison State College, Excelsior College and Charter Oak State College. These schools require "students" to complete lengthy evaluations and documentation prior to earning their degree.