Higher education is facing increasing pressure to demonstrate how learning translates into real-world skills, sparking a rise in competency-based education (CBE) programs nationwide.
Competency-based education (CBE) is “an educational approach that focuses on the mastery of specific knowledge, skills, and intellectual behaviors, known as competencies, rather than solely relying on the accumulation of credit hours. In a competency-based education program, the emphasis is placed on students’ demonstrated proficiency and their ability to apply what they have learned in real-word, authentic contexts.”
Yet while CBE offers greater flexibility to students, it also introduces greater complexity to an institution’s operational processes. And nowhere is that more evident than financial aid.
Because CBE measures learning on the mastery of subject matter, not seat time, financial aid offices must manage awards across standard and non-standard terms, as well as non-enrollment models. This is difficult, because traditional financial aid management solutions (FAMs), like many that come packaged with a student information system, lack the capabilities to automate the packaging and re-packaging of financial aid awards. As a result, many financial aid administrators revert to using inefficient, error-prone processes to manage their CBE awards.
Knowing which FAMs offer the robust capabilities needed to manage CBE programs is difficult. That’s why C-BEN, 1EdTech, and Unicon are coming together. Their goal is to increase transparency for institutions that are searching for technology solutions to support their CBE programs. By leveraging the 1EdTech TrustedApps Program and a unique CBE-focused rubric, C-BEN aims to develop a "CBE Technology" endorsement that can assist institutions by helping them to make better-informed purchasing decisions aligned with the principles of competency-based learning.
At Regent Education, we are thrilled to be the only financial aid management solutions vendor listed in 1EdTech’s TrustEd Apps Directory in the category of “competency-based.” Our self-assessment of the C-BEN CBE Skills Ready Rubric provides detailed information about how the Regent Award Suite meets the criteria as defined by 1EdTech and C-BEN as it relates to competency-based education.
“We are deeply grateful to Regent Education and the other technology vendors who shared their time, expertise, and honest perspective throughout this initiative,” said Amber Garrison Duncan, Executive Vice President and Chief Operating Officer, C-BEN. “Regent’s willingness to engage as a thought partner—grounded in real implementation experience—helped ensure this rubric is practical, forward-looking, and centered on what truly supports skills-ready, learner-centered education.”
Regent Education is the only financial aid management solution on the market that automates financial aid management across multiple enrollment models and cycles. With support for standard and non-standard terms, subscription periods, and non-term enrollment models, Regent Education empowers college and university staff to efficiently and effectively manage financial aid for all their CBE programs.
Using Regent Education, client institutions have experienced a 20-60% reduction in back-office staff workload, a dramatic reduction in manual processes, and improved compliance with ever-changing financial aid regulations.
Ready to learn more about how Regent Education can help your institution support CBE? Let’s chat!
