Here is an article on another online higher education venture. I am wary of the idea of students grading each others papers. It should be obvious that a history professor is better qualified to grade a history term paper than a student taking an introductory course.

http://www.nytimes.com/2012/04/18/t...versity-partners-for-online-classes.html
Online Education Venture Lures Cash Infusion and Deals With 5 Top Universities
By JOHN MARKOFF
New York Times
April 18, 2012

...

Unlike previous video lectures, which offered a “static” learning model, the Coursera system breaks lectures into segments as short as 10 minutes and offers quick online quizzes as part of each segment.

Where essays are required, especially in the humanities and social sciences, the system relies on the students themselves to grade their fellow students’ work, in effect turning them into teaching assistants. Dr. Koller said that this would actually improve the learning experience.

The Coursera system also offers an online feature that allows students to get support from a global student community. Dr. Ng said an early test of the system found that questions were typically answered within 22 minutes.


"To see what is in front of one's nose needs a constant struggle." - George Orwell