Opportunities for Innovation With Competencies as Currency

Abstract

Learners needs are changing rapidly, driven by innovations in technology and the world of work. Increasingly, learners need flexible education options and the ability to verify their own competencies as valuable currency for careers. Multiple trends are putting pressure on postsecondary education to be more flexible and competency based. Credit hours as a basis for defining credentials will drive postsecondary practices for some time, but there are opportunities for innovation with competencies as a parallel and complementary currency. Credit hours define degree attainment, financial aid, and other critical functions. Competencies articulate learning that has value both within and outside educational institutions. This chapter analyzes how credits and competencies provide value for stakeholders in learning ecosystems, including education providers, employers, and learners. Effective changes in postsecondary practices can be achieved through focusing on competency-based learning and credentialing practices that incorporate the value of competencies into credit hour-based processes.