Just thought I would add a bit to this thread. My son is one of those highly motivated students that just can't see spending so much money on a degree when testing is available. He is in the process of deciding if he will go with CollegePlus. He has taken 3 CLEPs so far on his own (American History I and II, and also English with Essay). We are still waiting for his English test results, but he thinks he did 'okay'. The first two he passed easily.
Here in Minnesota, high school students can get 6 CLEPs paid for by the state. We just pay an administration fee of $15 each. So that's 18 - 36 college credits (CLEPs are either 3 or 6 credits) for a grand total of $90. Of course, there are text books to add to that total, but they are pretty cheap used (don't have to buy the latest editions like you do in a b&m college!). As for learning retention, well, the studying is the same, but more intense since the student is focused on one topic. You have to decide to 'own' the information gained just like in any college class.
I agree that sciences and labs (and music), would be a bit harder, but CollegePlus works with those degrees too. My son is going for his bachelor's, probably in English, and then apply to graduate school. And, yes, there are many graduate schools to choose from as distance learning is becoming accepted more and more. And, of course, money talks, especially in this economy. That is what we have found with college too, just score decent on your ACT, apply, give them your money and you are in. My son got a 29 on his ACT, but even with that, he would still have to come up with over $1k a month to go to a private school. He would much rather try this route.
Most colleges accept up to 30 CLEPs so we'll soon need to make the big decision, but when you get to 30, it just makes sense to keep at it.
Well, just wanted to put a good word in for CLEP testing and CollegePlus. They offer a valuable service. Their site is very informative. Good luck with all the choices out there!
Margo