The Community College of Vermont (CCV) is a two year college founded in 1970 with locations in 12 sites in the state of Vermont. The college is a part of the Vermont State Colleges, a consortium of Vermont's five public colleges governed by a common board of trustees, chancellor, and Council of Presidents. Each of the five colleges has its own president and deans. As of 2008, the college had the lowest cost per credit hour in Vermont , and the second largest number of students in the state, the largest being the University of Vermont. CCV is the most expensive community college in the United States. In addition to its 17 associate degree programs and 11 certificate programs, the College offers an Assessment of Prior Learning course, through which students may obtain credit for knowledge acquired outside the classroom, an Introduction to College Studies course designed for high school students, and two study abroad opportunities annually. The state created the Vermont Regional Community College Commission (VRCCC) in 1970. Peter Smith was hired as the first president. VRCCC opened in Montpelier with 10 courses and 50 students.