No, you can use CLEP, but when you pass a CLEP exam it gives you college credit. For instance, if you took a Calculus I CLEP exam and passed, your transcript would credit you with 5 credit hours. You still had to have the 120 hours to graduate though.
This is from Cuny:
CUNY undergraduate programs lead to two types of degrees: the associate or the bachelor's (baccalaureate). Generally, an associate degree requires approximately 60 college credits and a bachelor's degree requires 120.
You're right, Gilead's figures are not adding up. He may have had scholarships of course.