Competency-based Degree Programs are Ready for a Surge?

I noticed this story at Inside Highered which suggests competency-based degrees may be ready for a surge. >http://www.insidehighered.com/news/2014/02/21/direct-assessment-and-feds-take-competency-based-education . Competency-based implies that the student can test-out of much or all of the coursework normally required to earn a degree by passing appropriate tests or submitting completed work. Since higher education has become so expensive the demand for competency-based degrees seems to have surged. The validity of a competency-based degree depends on the validity of the methods that are used to assess the students skills and abilities, but isn't the validity of regular degree programs also dependent on that? The Inside Higher Ed story is concerned with the federal governments action in encouraging/discouraging competency-based higher education. Leading proponents of competency-based degrees include Southern New Hampshire University and Western Governors University, and I think you can count Excelsior University as a proponent too. These three institution are regionally accredited. The graduate degree program information presented on my website ( http://onlinegraduateschool.tripod.com/nfp.htm ) is focussed on online degree programs from regionally accredited institutions.