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All public institutions of higher education shall adopt for implementation beginning in the 2014-2015 academic year a program consistent with the policies, standards, and requirements prescribed for the University of the Virgin Islands in section 456(d) of this title for granting academic credit to students for prior learning which recognizes knowledge, skills and competencies acquired through formal and informal education outside the traditional academic environment when the acquired knowledge, skills and competencies demonstrate college-level learning and align with the institution’s course competencies.