It is possible for students enrolled at St. Edward's University to earn credit by examination through several external programs. The university participates in the Advanced Placement Program (APT) and the College Level Examination Program (CLEP) , both of which are administered by the College Entrance Examination Board. Credit is also transferable from graduates of the International Baccalaureate Program (IB).

Credit also is granted through the Defense Activity for Nontraditional Education Support (DANTES), a program made available by the Education Testing Service (ETS), and the ACT Proficiency Examination Program (PEP) .

Students with unusually thorough high school preparation or significant work experience are encouraged to earn credit by challenging courses offered by the university. In this way, a student's progress toward a degree may be accelerated. A maximum of 15 hours of challenge credit may be counted. Procedures for challenging a course are found in the Student Handbook. Each school determines which of its courses are open to challenge. Only currently enrolled students are eligible for challenge exams.

Credit granted by examination is applicable to a St. Edward's University degree program but may not necessarily be transferable to another institution. Examination credit counts in neither the residence hours nor honors calculations. It is necessary to make arrangements to complete all CLEP, DANTES, PEP and challenge examinations prior to certification for graduation. All examination credit appears on the transcript as CR and does not affect the GPA in any way.