"EdX is a joint partnership between The Massachusetts Institute of Technology and Harvard University to offer online learning to millions of people around the world. EdX will offer Harvard and MIT classes online for free. Through this partnership, the institutions aim to extend their collective reach to build a global community of online learners and to improve education for everyone." They really have nothing to lose here. People who want to go to MIT or Harvard will go regardless, and people who otherwise would have no interest in them may be exposed to them. Smart move.