I suspect this may a primary driver of net based education. Certainly it probably won't replace elementary and primary schools, but if accreditation can be achieved online, then you don't have to fuss with the "middleman" - which in this case often means dealing with arcane rules that protect the tenure of educators versus promoting quality education. I think I remember a Fred Wilson or Paul Kedrosky post a ways back on how home schooling was a particularly attractive market for education delivered over the net as a starting point.