The affordability of competency-based learning?

How good a degree will this be?:

The $10,000 bachelor’s degree remains elusive. But Southern New Hampshire University’s College for America has unveiled self-paced, competency-based degrees that students should be able to complete for that price, or less.

The private university’s regional accreditor, the New England Association of Schools and Colleges, last week gave a green light to online bachelor’s degrees in health care management and communications from College for America, which is a nonprofit subsidiary of the university.

The college first began enrolling students last year. Until this week its sole option was an associate degree in general studies.

Tuition and fees at College for America are $1,250 per six-month term. The college uses a subscription-style model in which students can complete assessments at their own speed. The associate degree is designed for students to complete in an average of two years — at a cost of $5,000.

And:

…students can go from start to finish in four years, spending a total of $10,000…

Tuition subsidies will bring the price down further for many students. The college is heavily focused on employer partnerships, and has brokered arrangements with 50 companies and nonprofit employers, including McDonald’s, Sodexo and Anthem Blue Cross Blue Shield. Employers steer potential students to the college. Most also cover some of the tuition.

The defined scholastic year has two twenty-six week terms, with no break.  There is more here.  By the way, here is a new proposal for accreditation on a class-by-class basis, so as to cover on-line education.