While $199 might cover just a single credit (or much less) at a typical college, the same fee buys a month of unlimited classes at New Charter University, one of two online schools by startup firm UniversityNow. The pricing structure is similar to online college course provider StraighterLine’s model, launched in 2008, which charges $99 per month of enrollment, plus $49 per class.

"We've also seen an explosion of free and cheap post-secondary learning opportunities this year with the boom of online universities like Propero, Straighterline, and UniversityNow. Education Portal is offering free courses geared toward College Board's CLEP exams. And Saylor.org plans to provide a suite of CLEP courses as well. This week, another free solution hit the market."

"California is ground zero for the crisis in public higher education. Its once well lauded and well subsidized system of public universities, state colleges and community colleges has simply run out of money. $2.7 billion has been eliminated from its budget since 2008. Tuition has been hiked, course offerings and staff slashed, and a record 470,000 students are on waiting lists at its 112 community colleges. But amidst the gloom and doom, we interviewed entrepreneurs who are convinced that higher education is ripe for disruption, and that in the not too distant future, college will be more affordable, accessible and relevant to the workforce. In fact, the future is here. Start-ups like UniversityNow, a network of low-cost, online colleges, allows students to work at their own pace and pay a few hundred dollars a month for a degree."

Watch the full 13 minute segment of Dan Rather Reports' special on UniversityNow: "A college degree is the key to realizing the American dream, well worth the financial sacrifice -- at least, that's what we've always believed. But the cost of going to college has never been so high and the value of that diploma has never been more in doubt. We profile several entrepreneurs who are trying to make college education more affordable, accessible...and relevant to today's job market. Dan Rather Reports airs Tuesdays at 8pm ET on AXS TV. "College on the Cheap," aired Tuesday, September 18, 2012."

Check out this sneak preview of the upcoming Dan Rather Reports special on UniversityNow: "The Future of Higher Learning." The segment features a quote from UniversityNow's CEO, Gene Wade: "Let's make a school that people can afford to pay out of the pocket they have today, not the one they may have in the future. You can afford to pay this right now." This special will be airing on Access TV on Tuesday, September 18th at 8 pm EST.