OU is the gold standard for distance learning in the UK. Their fees are going up too (equiv to 5k for a years study) which seems a hell of a lot. I guess the difference is that you don't have the accommodation costs, and you can work and study at the same time.
I can see a gap in the market for accreditation there. An enterprising university could offer budget courses where all the material and lectures are from the free open source university programs but additional assignments and exams are given by the university.
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