While there may be a modest cost to take the exam, with the Internet nearly all of the lectures and materiasl could be free. Those producing the lectures and content found on the Internet could actually do very well financially if they accepted advertising.
The exams could start in first grade. When a child masters a specific subject, he would take the private qualifying exam in that topic. If he passes he would move to the next level in that subject.
Any child of any age should be allowed to take a GED-type exam which would be more comprehensive. If he passes, he would be awarded an official high school diploma directly from his local government high school.
Even on the college level many of the courses could be offered on-line for tuition-free. Proof of mastery of the topic would be a qualifying exam. Even many of the courses found in the professions could be on-line.
Benefits:
** Bright and ambitious children could move into adulthood more quickly. They could start employment, a trade, or business sooner. They could marry, buy a home sooner, and start life debt free. This irrational extension of childhood into the late twenties and early thirties could be completely avoided. Also, young people could avoid much of the toxic and degrading college campus culture.
** A brisk private tutoring industry would emerge.
** Children and parents could learn self-sufficiency in learning. They would be far less dependent on the government schools.
** Far fewer government schools and teachers would be needed. This would be a tremendous boost to state budgets and the tax payer.
You need the direct interaction with experts in your field on a daily basis. You need serious experience working in teams, discussion and study groups. You need experience in delivering a papers in front of peers. You need gobs of equipment, laboratories, test instrumentation, and materials that are so far above the average home it isn't even worth describing to you, because you obviously have no idea what it is to study in the professional fields.