i think we will see more experimentation before a few successful models emerge. one of the promising recent initiatives i found is: Peer 2 Peer University http://www.p2pu.org/

some of their courses are being offered in conjunction with established academic institutions. for example: http://www.p2pu.org/general/open-journalism-open-web . even a for-credit course: http://p2pu.org/journalism

i've also posted a separate thread re: P2PU: http://news.ycombinator.com/item?id=2021565