Standards-based grading (SBG) is an assessment/grading system that attaches scores to the mastery level of specific learning objectives. This methodology is gaining momentum in the K-12 environment but has been largely overlooked at the post-secondary level. In this paper, I will discuss the implementation of this practice in a College Algebra course. I will also discuss the motivation in attempting an alternative assessment system, the development and implementation process and describe the resulting system. Comparisons will be made between a College Algebra course utilizing the traditional points-based system and the same course in which SBG was incorporated. These comparisons will include observed student behaviors, student perception, the administrative efforts required of the instructor, and student performance in subsequent courses.