Requires Secretary of Higher Education to establish standards for assessing and awarding academic credit for prior learning.

This bill requires New Jersey's Secretary of Higher Education to establish statewide standards for public colleges and universities to assess and award college credit for prior learning experiences, such as job training, military service, or industry certifications. The standards must cover assessment methods (including exams, portfolios, and industry credentials), minimum credit acceptance requirements, credit transfer between institutions, dispute resolution processes, and annual data collection to track student success. Public institutions must adopt policies meeting these standards - potentially through partnerships with Thomas Edison State University or approved third parties - and may charge a small fee for assessment (not full tuition). The bill also mandates annual reports to the Governor and Legislature on compliance and the system's impact.