It's no secret that I'm a big proponent of AP, IB, CLEP, and other standardized tests in which students can earn college credit.  However, I also realize that a lot of students never attempt such tests because they think the exams are only for the so-called "brainiacs."

If you're a student who has been intimidated by such tests in the past, or you think you'll never score high enough to earn credit, it's time to take a second look. In fact, for many of these tests you only need to answer 40 to 50 percent of the questions correctly in order to start shrinking your tuition bill.

Although some of these tests can be challenging, I also know that with a little extra preparation and a bit of hard work, virtually any student can succeed. Keep in mind that while such tests are designed to approximate college course work, many students report that the tests are much easier to pass than actual college exams on the same subject. In fact, seeing all the money you can save may be just the incentive you need!