Yesterday, Georgia Tech announced a partnership with Udacity and AT&T to offer a scalable computer science master’s program using MOOC technologies:

Georgia Tech to Offer a MOOC-Like Online Master’s Degree, at Low Cost

By Jeffrey R. Young
In an unprecedented arrangement that involves aspects of MOOCs and a major technology company’s support, the Georgia Institute of Technology will soon begin offering an online master’s degree in computer science at an unusually low cost.
Georgia Tech announced on Tuesday that it would work with Udacity, a company that runs massive open online courses by well-known professors, to offer a series of online courses that students could complete to earn a graduate degree from the university.
AT&T is donating $2-million to help get the program started, and the company will play an active role in some courses, if professors agree—offering guest speakers or suggesting class projects.
Courses in the program will be free through Udacity’s site, made up of video lectures and computer-graded homework assignments. Students who want the possibility of credit or a degree will have to apply for admission to the university and pay tuition, and those students will get access to teaching assistants and, in some cases, have their assignments graded by people. Read more.