Competency-Based Education (CBE) programs require the demonstration of competence rather than accumulation of credits, empowering learners to choose the process and pace of their experience. The current study investigated the role that self-direction plays in the success of students in CBE programs and the extent to which the cultivation of self-direction may vary based on CBE program design. CBE programs often are considered to be learner-centered and self-directed; however, there is limited knowledge about what qualities or skills make students more likely to be successful in CBE programs. This early exploratory analysis suggests that students who self-select into a CBE program have relatively high self-directed learning capacity particularly with respect to setting learning goals, identifying learning resources, and managing stress. Participation in a CBE program may also have an impact on students’ self-directed learning capacity; however, additional study with a broader sample is recommended.