<p>It's always worth it to take the tests; you're basically paying an $80 option cost (you're in Wharton, right? :-)) that can open many doors at a $50k/year university. You've already taken the class - the marginal cost for the test is so small compared to the expected marginal benefit.</p>
<p>You won't directly save money at a school like Penn. As a full-time student, you pay the same rate whether you take 4 or more classes each semester. </p>
<p>Most people use the credit to get out of requirements (like sciences, math, foreign language, or something else), or to place into a higher level class (computer science, math, foreign language, physical sciences). ** You can indeed save money in a few ways:**</p>
<ol>
<li><p>Graduating early. If you're in a dual degree or double major, you can turn what might be a 4.5 or 5 year course of study into 4 years, or avoid needing to take summer classes. Looking at all the students who either graduate in 3 or 3.5 years with a single major, or 4 years with a double major/ double degree, it's over 50% of the class.</p></li>
<li><p>Graduating a semester early, or taking part-time classes during your senior year. In the spring of your senior year, you can take 1, 2, or 3 classes for reduced tuition at a per class rate. This can be worth $5k, $10k, or more. This is VERY popular.</p></li>
<li><p>Getting a Master's degree or additional coursework, or studying abroad. These things are harder to price, but if you can get an advanced degree in your 4 years (not really possible for Wharton, but huge for engineers) or study abroad when other situations wouldn't have allowed it, you can really get a leg up in your career. </p></li>
</ol>
<p>Those credits WILL show up on your transcript. You won't get a "grade" but you'll still get the credit. In some cases, it's a normal penn course number, and in some cases it's a special course number designated to stand for AP credit, which is then equivalent to some other class. Depends on the case (and if you have specific AP classes you're concerned about, post them and I can tell you.)</p>
<p>In most cases, if it's a general requirement, you don't want to get stuck taking the Penn version of the class, as it will be way harder and way more competitive. In a few cases (like econ) Wharton has a completely different curriculum and you may want to do that instead. An old rule of thumb I've heard is get AP credit for the electives/general requirements, and take the Penn version of the courses in your major.</p>
<p>The only area where I would say skip the test is if Penn truly does not offer credit AT ALL for the course (like Gov or Music Theory) AND you would need to study a lot for the test. If something came easy to you and you could get an easy 5, go ahead and take the test to get the score even if Penn might not offer credit - you never know where it might help you some day.</p>
<p>Personally, I'm getting two degrees in 4 years when many of my peers in the program are going to stick around for a 5th year. I'm glad I got those 11 AP credits.</p>