College can be expensive. In fact, Americans are currently paying off an approximate $1.4 trillion in student loan debt.
But now there's an opportunity to skip an expensive four years and still go to grad school at one of the nation's most competitive universities, Massachusetts Institute of Technology (MIT).
Students can do so through the MITx MicroMasters, which has no degree requirements — not undergraduate or even high school — for students to sign up, according to Boston news site WBUR. There is also no GRE requirement.
Here's how it works: Prospective students enroll in a set of required online courses and then take one or more proctored exams at a testing facility. Those who pass the courses and the test earn a MicroMasters credential from MITx.
Passing students in the MicroMasters Data, Economics and Development (DED) policy program are then eligible to apply for a master's program on campus at MIT. According to the MITx site, students can also use the credentials to apply to master's programs at several other other universities.
If accepted at MIT, students enter a "blended" master's program that combines the work they completed online with an additional semester on campus.