credit bank

Hi guys, I'm new and trying to absorb all of the great info on this site.

I want to just make sure I understand the credit bank correctly:

If I open a credit bank with excelsior or tesc, I can transfer all of my current college credit into this bank. Then I can take clep exams to add credit to my bank. This way I can rack up a bunch of credit before I officially enroll?

Is my understanding correct? How long can I keep my credit bank open?

sorry for the dumb questions! thanks

 

Well, you COULD do it that way, if you really wanted to but I would not recommend setting up a credit bank if you plan on enrolling with one of the big three anyway. The most affordable way to do this is to (a) figure out which degree program you want to complete, (b) compare the credits you already have to the degree requirements (easily accessible at TESC web site), (c) begin taking CLEP/DANTES/FEMA to fill degree requirements. When you get near the end of your requirements, enroll and quickly wrap up the degree.

It isn't necessary to set up a credit bank if you plan on enrolling with TESC. One primary purpose of the credit bank is if you have accumulated a lot of credits from various sources and you need a way to consolidate them on one transcript (for whatever reason).

 

Thanks that makes sense. I was confused about taking the CLEP/DANTES and wasn't sure if I had to have an existing credit bank with the school that I wanted those credits to go to.

So when you take a CLEP/DANTES, how can you confirm they recieved your results if you are not enrolled and do not have a bank setup?

 

Your CLEP/DANTES scores are recorded by the organization that administers the exams. When you are finished taking all the CLEP/DANTES exams you need, simply order a transcript and have it sent to TESC. The transcript will show all of the exams you have taken and your scores.

 

ok that clears things up immensely....thank you!

 

Another Question

Hi all,

Is there a Credit Bank for graduate work in order to put all one's work into one "transcript" document?

K

 

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Just to piggy-back a little info on this subject, CLEP exams are open to anyone! You don't have to be a college student. Simply find a testing center near you and pay the fee. Once you decide where to enroll/when, you can work out a detailed degree plan with the appropriate exams. I actually took 3 exams before I decided to "go for my degree" because I wanted to see if it would be too hard. When the time comes that you enroll somewhere (even if it is your local community college) you simply pay The College Board a $20 fee, and they will forward all of your scores to the school(s) of your choice.

Credit bank, in my opinion, is a huge waste of money. For a few years I have tried to figure out a reason someone might use one, and I have only run across 2 people who had good specific reasons. The reason you mentioned isn't one. See, when you enroll in a college (any college) they will want an official transcript(s)- they won't accept a credit bank transcript. So, you'll have The College Board transcript in addition to any other credits you have earned at other schools ANYWAY! (and all the fees that go with it) Save your money, the cost of a credit bank is the cost of 5 CLEP exams!

Really, you can do a lot before you ever get to the point of having to enroll ($). Your CLEP credits are valid for 20 years, so you have plenty of time.

 

I can think of one reason for a credit bank...

If you are in the military and you want to to have your ACE evaluated military training put on a transcript to earn promotion points. That's worth the $250 IMHO.

Shawn

 

Correct me if I am wrong.

Some RA institutes will accept credits earned from a non RA institute if there are documented proof that such credits are accepted by another RA institute.

Hence, another reason for Credit Bank service : Documented proved that credits from non-traditional source such as CLEP, DSST and Language Proficiency test is accepted by an RA institute i.e Excelsior, TESC.

 

according to excelsior.edu...

I have several IT courses from 99/2000 that I would like to transfer, but it may be a while before I am ready to enroll. Not sure what to do now, should I enroll?

 

yes, that was one of the 2 LOL. I think it's up though, I think last look it was up around $450.

 

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I think this is apples and oranges. To have credit in a credit bank doesn't mean that credit has been "accepted" by anyone for any degree. It's logged. Nothing more- nothing less. TESC isn't "vouching" for credit, or making it legit. Also, you don't have to do anything with CLEP/DSST- those come on official transcripts. There is nothing a credit bank can do to your credit that wasn't already done before.


I can't quite wrap my brain around the DL community's love affair with credit banking. It's redundant in almost every situation. But then again, maybe it just feels cozy to put all the credits on one page? Maybe it feels more "complete" to see everything on one page than the real-deal-piecemeal some of us have for credits. <shrug> I'm not slamming anyone- I have 8 sources (transcripts) of undergrad credits for my BA- and I submitted the entire stack with each and every grad school application. It's a pain, but a credit bank transcript won't fix it.

Anyway, I just thought of a new business- for $300 I'll type up anyone's credit summary. Paypal only please.

 

Jen,

I double checked - according to the Credit Bank Application at TESC - military personnel fee is $250

http://www.tesc.edu/files/NondegreeServiceApp(1).pdf

I did some advising with a SSG (E6) who has no desire to go to college, but he wants to get some additional promotion points for post secondary education. He has 100+ hours of ACE Evaluated training through the military. He can "double dip" and put all of that training on a TESC transcript and pick up additional promotion points. Yep, that's worth $250.

Shawn

 

BTW, Jen, I think you are correct in most cases - the only other case I could think of is in the Homeschool community - if applying for local merit scholarships I could see where it could be advantageous to put CLEPs, DSSTs, etc in a credit bank because a college transcript is easier for people who are not familiar with alternative methods of earning credit to "wrap their arms around."

At one time I was considering opening a credit bank for my 16 year old, but since she has 32 credits completed, we are going for an AA - General Studies from Charter Oak.

Shawn

 

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Hummm..... However, you still need to buy official transcripts from the college board for AP/CLEP anyway. Maybe from non-transcript-issuing situations, like www.ALEKS.com for example. They only issue credit via ACE, but in that case, you have an ACE transcript.

If a young person/homeschooler is applying to college as a freshman or transfer, they havn't really "earned" credit yet- only the possibility of credit LOL. It's still up to the receiving school to determine if they award anything- and I'd still suspect that they are going to want official transcripts.

 

Jen,

I don't think we're quite on the same page - let me give you an example.

In our small town in Northern Wisconsin, there are a variety of local scholarships available. For instance, the local Rotary Club has a scholarship. The Rotary would not know what a CLEP or DSST exam was; however, if you "banked" the credits earned by these exams (and ALEKS as well), you would have everything of an official transcript from a college. (I'm guessing they wouldn't know about ACE).

Again, we're not going that route, but that's one use of a bank.

Shawn

 

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Shawn,
I understand what you are saying. I would just keep in mind the cost when compared to a $20 CLEP official transcript. Maybe it's a big scholarship

Here is what the college catalog says about banking- emphasis mine.

"Credit Banking is available to individuals who wish to
document college-level military experience, licenses,
college proficiency examinations and college-level corporate
training programs. To apply for Credit Banking,
complete a Nondegree Services Application, which may
be accessed on the College Web site at www.tesc.edu or
request that a copy be mailed to you by calling the
Office of Admissions toll free at (888) 442-8372.

The Credit Banking application fee entitles students to
transcription services for one year. Students are advised
that credits transcripted under the Credit Banking program
may or may not apply to a degree program at
Thomas Edison State College or another college.It is
the student’s responsibility to ensure that a receiving
institution’s academic policy will allow transfer of each
credit. Credit will not be transcripted in cases of obvious
or apparent duplication or for courses deemed to be
developmental."
www.tesc.edu


As you see, TESC is not validating or issuing credit. They are not even "vouching" for the credit- just writing it down and printing it on letterhead.

 

This may be one of the two. Some people like seeing them on one semitranscript of a college as it helps motivate them to see them accumulate.

Sidney

 

ACE recommends that credit be granted for Aleks courses (etc), but you need to have Thomas Edison or another school actually award credit for them. The same could probably be said of FEMA courses -- that they aren't "earned" per se until a school signs off on them. Now some or all may not wind up on the credit bank, but that is a question for TESC.

For scholarship apps (especially while in high school), having all of your potential credits on one transcript can be major. If Shawn's daughter has an excellent GPA in HS, the fact that she is halfway through an AA at 16 could lead to some serious scholarship swag. But, the other side or the coin is that it could be $425+ for a piece of motivation (with no scholarships won). Something to consider and evaluate for themselves.

 

Griffin,

Great synopsis - thanks.

BTW - my daughter has now accumulated 35 credits, with Intro to World Religions and Fundamentals of Speech DSST exams coming up.