This article describes the changes and challenges that Competency-based education (CBE) has bought to the higher education arena. Cautions are being offered about the most prominent features of the version being promoted today, particularly its hyper-individualization. CBE's recent prominence is due to better technology, a friendly policy context, decreased state support for higher education, and free online educational resources. This has increased public skepticism about traditional higher education, and the support of philanthropic foundations, however, the current CBE movement forgets the central enterprise of higher education: ongoing, engaged teaching and learning. While no reliable data yet supports the contention that students in these programs are learning more than their peers in traditional programs, particularly marginalized students, the caution remains--in this "Age of Information," when students are constantly inundated with data of all kinds, there is a need to continue the work of shaping and sharing educational experiences with students, a work even more important today.