An increasing percentage of students entering postsecondary institutions are working at least part-time and balancing multiple identities, responsibilities, and demands on their time and resources. As student demographics change, postsecondary institutions must rise to meet these students where they are. Two effective ways to do that include Competency-based Education (CBE) and Credit for Prior Learning (CPL), methods by which students are able to leverage what they have already learned outside of a traditional classroom. This article explores the benefits of these tools, particularly CPL, to both students and institutions, using evidence from research. Among these benefits are reduced time and expense, higher degree completion rates, and increased student confidence and self-efficacy. This research also acknowledges equity considerations of CPL and CBE, including efforts to expand the reach of these options to more working learners, as well as how these tools help establish stronger connections between learning and work.