The Commonwealth of Kentucky is exploring competency-based education as a way to better prepare students for success in college and their careers. Some individual schools and districts are moving ahead with this innovative approach where achievement is the constant and time is the variable. Not all students learn at the same rate, or in the same way, so flexible models that adjust to the needs of students can help more students succeed. Discussions about competency-based education include two key terms: (1) competency-based; and (2) personalized learning. Competency-based learning identifies specific and measurable learning objectives that students must master before moving ahead. Assessment is meaningful and leads to a positive learning experience. Competency means not only learning content, but also the ability to apply that content to solve problems or communicate about them. Personalized learning creates a data-driven framework to set individual student goals, assess progress and ensure that students receive the academic and developmental supports they need. Examples of competency based education in Kentucky such as Saturday School, and iPads issued to students in some counties so that teachers can video their lessons and students can review them at their own pace are discussed. Another initiative discussed here is to assist students with credit recovery. A student who has to retake geometry would only need to master the units that he or she failed rather than the entire course. These approaches benefit more than struggling students. Bright students can move ahead, completing course work faster than otherwise possible. Many students now take college-level courses in high school, earning dual credits at a cost to parents below college tuition rates. Challenges, frequently asked questions, teacher education, funding, and a glossary of terms related to competency-based education are also provided.