[vertex-four]

> This is presented as a novel idea, but governments have been subsidizing education for a long time because of this long held value (see: student loans).

Not only that, but the UK has had the Open University since 1969 which provides mass long-distance learning, with grants and loans being easy to find for those taking less than 120 credits a year. They've been using computers and the Internet since they were first accessible to people (using TV and radio for broadcasting lectures before that), and have been releasing some free course material since 2006. The OU also provide a degree track, giving out degrees that are (theoretically) on par with brick-and-mortar unis.

Of course, MOOCs are interesting in that the course material tends to be free, but they're also far behind the Open Uni in most other aspects.