Competency-based education (CBE), broadly defined as a form of higher education in which credit is provided on the basis of student learning rather than credit or clock hours, has begun to catch the attention of federal and state policymakers, foundations, and colleges. Among the model's promising features are its potential to lower college costs and serve adult students in need of flexibility. Still, despite the model's visibility, few researchers have actually taken an in-depth look at the wide range of competency-based education providers. Many questions have emerged around the various ways students can earn credit, the number of providers that offer competency-based coursework or degree programs, and the number and types of students enrolled in these programs. Additionally, although the list prices of competency-based models appear very cost-effective in relation to traditional higher education models, no one has comprehensively examined the true affordability of CBE programs and whether they actually deliver credentials to their students at a lower price. In this paper--the first in a series of papers that will examine competency-based education from a number of perspectives--Kelchen explores the uncharted landscape of CBE providers and presents insight on the definitions, scale, and finances of the enterprise.