My thoughts are based on what I've read elsewhere about them, and their own website, e.g.
http://www.collegeplus.org/howitworks/distancelearningcollege .
The first thing that jumps out at me is that this is not a degree program. They exclusively refer a student to local or online colleges in order to get a degree.
The second thing that seems apparent (someone please correct me if I'm wrong) is that a student could save the entire CollegePlus tuition price by simply taking the CLEP exams etc. on her own, then enrolling herself in a local or online institution.
Also, this Thomas Edison College they tout is an online institution. It is an extreme outlier, for example in terms of how many credits it'll accept from CLEP exams. I think that there's nothing wrong with getting an education solely or mostly online, but it would curtail some opportunities after that point.
If it were me, I'd strongly consider saving $15,000 and just looking taking a back-to-front approach: figure out what my child wants to do with himself (while keeping his options as open as possible to accommodate mid-stream changes), find the list of institutions that would support those goal(s), and find the prerequisites for entry to those institutions. Then if time and money could be saved with CLEP tests and the like, I'd just help my child enroll in the tests and prepare for them. (Of course the total money savings might be less than $15,000 if the CollegePlus "tuition" includes exam fees, but I didn't read far enough to determine that.)
