University of the People

University of the People (UoPeople) is a non-profit, accredited online institution of higher education in Pasadena, California, United States. It currently offers academic degrees in business administration and computer science.
Mission and history.
The mission of the school is to offer any qualified student affordable and quality educational programs. 
The school was founded by Shai Reshef in January 2009. It partners with institutions such as New York University and Yale University. It has received grants from Google, Microsoft and Hewlett-Packard.
Cost.
Students pay a registration fee of $60. They do not pay annual tuition fees. Instead, they pay $100 each time they take an examination. One does not have to buy books. Open source online textbooks can be used.
To complete an associate degree (A.S.), a student must take 20 exams. 40 exams are needed for a bachelor's degree. This costs a total of $2,000 and $4,000 respectively. Students who cannot afford to pay can apply for scholarships.