For the most part, the first 2 years of a lot of degrees could largely be done by watching a video of the lecture, and going in to do lab work. 500 person lectures are pointless for any individual. If the curriculum is designed properly though, the following years would still benefit from actual classes of 50 or so. That was my experience, anyway. I think some sort of hybrid of the 2 would work well and save a lot of money.
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