Capella Education Co. unveiled a new style of self-paced online education that it said could save time and money for students, and allow them to get degrees faster, the Star Tribune reports. On Monday, the U.S. Department of Education approved Capella’s FlexPath degree track, which is based on self-learning and demonstrated competency rather than on time in class or credit hours. The company submitted the program for review after the department in March notified educational institutions of its interest in promoting what has become known as “competency-based” education. As a result, the Minneapolis-based company’s main service, called Capella University, will begin in October to offer FlexPath options for two of the 47 college degrees it offers, the bachelor of science in business and the master of business administration, or MBA.

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About the Author:

Jake New

Jake New studied journalism at Indiana University, where he was editor-in-chief of the campus newspaper, the Indiana Daily Student. At the IDS, Jake covered the IU administration, minority student issues, and state education policy. After a brief stint at the Bloomington Herald-Times covering IU, crime, and local politics, Jake interned at the Chronicle of Higher Education in Washington D.C, writing about online learning, open-access policies, academic publishing, and ed-tech startups. Jake joined eCampus News as an assistant editor in May 2013, where he continues to cover technology and higher education. His days often begin with a cup of coffee and the sinking feeling that another MOOC story is just around the corner. Follow Jake via Twitter: @eSN_Jake