Capella University announced  that the U.S. Department of Education has granted approval to two new, competency-based degree programs . The university's "FlexPath" online bachelor's of science in business and master of business administration degrees are so-called "direct assessment" tracks, which are not based on the credit hour standard. Students in the two programs can now access federal financial aid thanks to the department's green light. Southern New Hampshire's College for America is the only other institution  to receive such approval, but Northern Arizona University is also seeking  it. Regional accreditors have signed off on the direct assessment degrees at all three institutions.