MIT has just launched MITx. MITx will be a learning platform that hosts a number of MIT courses online. It will be interactive and free to students from around the world. MITx will also enable students to grade themselves on the subjects too. What is truly innovate IMHO is that they will allow student to show their mastery over a subject to get a certificate of completion (although not from MIT to distinguish and presumably not to diminish the value of their on campus programs!). This is moving towards competence based education rather than time based education.
MIT has been in the forefront of open course ware or OCW since its launch 10 years ago. They are taking it even further with the launch of MITx, an initiative led by MIT Provost L. Rafael Reif. MIT deserves significant praise for their efforts in freeing up education.
We at GraduateTutor.com are on standby to assist students who may need some private tutoring to master the subjects of choice.