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The $10,000 Bachelor’s Degree

Another sign that the internet is about to burst the college cost bubble:

Excelsior is a nonprofit college in Albany that specializes in helping mid-career adults finish their studies. The school consolidates college credits in the same way a debt-relief service consolidates bills, helping returning students clean up their transcripts and finish their degrees…

The $10,000 degree initiative, announced Jan. 23, takes advantage of a new resource: free online college courses. Here’s how it works:.

Excelsior specializes in credit-by-examination: students complete coursework and then sit for an Excelsior College Examination that measures their knowledge in the subject, similar to the College Board’s College Level Exam Program.

In the past, students have paid for those courses, at a rate of $370 a credit, putting the cost of the average Excelsior degree at about $20,000.

Now, there’s a cheaper alternative. Faculty at Excelsior have matched each end-of-course exam to one or more free online courses. Students download the free course, complete it through independent study and then sit for the final exam.

Excelsior President John Ebersole says his institution is designed for the 85 percent of college students who are not of traditional age, studying full-time and living on campus.

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