Recognition of prior learning (RPL) and credit transfer policy in Australia from 1995 to 2001 was examined through a review of Australian research discourse and an analysis of national data for the period. Selected findings were as follows: (1) RPL and credit transfer are most relevant to vocational education and training (VET) clients seeking full qualifications but are of negligible importance to students enrolled in non-award and subject-only programs; (2) among the factors that affect RPL and credit transfer rates, age appears to be the second in importance after the Australian Qualifications Framework category of the program undertaken; and (3) providers are offering RPL and credit transfer in different amounts. The following recommendations were offered to policymakers: (1) promote the term "assessment" to ensure that all purposes of assessment, including RPL, are clearly placed within the framework; (2) view RPL as a purpose of assessment with an important role in the training cycle, especially as a precursor to training; (3) investigate further analysis of the proposed benefits and barriers to RPL; and (4) conduct qualitative research to determine whether the current services offered by VET providers recognize the full extent of RPL and credit transfer entitlements among VET students. (Thirteen tables/figures are included. The bibliography lists 66 references.) (MN)