But, after the entrance examination, it became clear that this was not achievable, so the difficult decision was taken to close the school at the end of the 2013 summer term.

BBC: Exeter's St Margaret's School to close

The College-Level Examination Program, run by the College Board (the institution that commissions the SAT entrance test), allows students to study on their own, then take a competency test in one of 33 subjects and get college credit for passing.

FORBES: Paying for College: The Three-Year Degree