I think it would be very helpful. A smart high school student could in theory take a college course online and earn advanced credit. Also it would surely cut education cost for the student. In so much as they would save on travel expenses, food, clothing, housing.
Where is will hust is the college experence of being their and not just sitting at home, but meeting new friends and having one on one contact with the professors. That in itself is a big part of college and getting out into the real world.
But an advantage is to the adult who might take a course at home to improve his work skills or just keep up with their own childrens education.
http://www.npr.org/2012/09/30/162053927/online-education-grows-up-and-for-now-its-free?ft=3&f=111787346&sc=nl&cc=es-20121007
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