Most college teaching should be moved online. Why does someone have to stand up in front of you, talk and write on the board and be entertaining in order for you to learn? At the high school level and below you need a teacher but once you make it to college you are an adult and there are these things called books that hold all the information. If you need to hear someone talk then watch a youtube video. As it stands professors are going out of their way to win popularity contests to get tenure, the standards sink lower each year, students learn next to nothing and end up with mounds of debt and no skills for the privilege. Put it online and standardize the exams and assessments.
This is the cost effective way.
I would modify this a bit. It should not just be college courses.
1) **ALL** state provided teaching should be available on the Internet, from K-12 through the highest levels of graduate school. Video it all, provide the textbooks in the local library or on-line, and put it On-Line for all to see.
2) And...Any child or adult of any age who scores high enough on the SAT, ACT, or GED exams should ( if he wishes) be granted an **official** diploma from their local high school. This would give the child access to scholarships and entrance to the military that might otherwise be denied due to lack of an official high school diploma.
3) All high school senior students should be required to take the GED and pass it. If they don't they would not be given an official high school diploma. They would be given a certificate of attendance instead. As a retired employer, personally, I am sick of high school grads who are completely innumerate and barely literate.