Online education provider Udacity has come up with the concept of "nanodegrees" - specialized training in a hi-tech skillset which prepares you for a specific "new economy" job, in a shorter-duration and lower-cost format:
http://www.skilledup.com/blog/faq-udacity-nanodegree-hype-hope/
http://www.nytimes.com/2014/06/18/business/economy/udacity-att-nanodegree-offers-an-entry-level-approach-to-college.html
https://www.udacity.com/nanodegrees
http://blogs.wsj.com/venturecapital/2014/09/24/e-learning-startup-udacity-raises-35m-to-launch-nanodegrees/
Various NASSCOM people have been proposing similar ideas for "boutique schools", etc in India as a similar approach.
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