Exams Only Universities

This is the model of university I like to proselytize. It's similar to "The University" in The Name of the Wind by Patrick Rothfuss, but I was thinking about this concept before I read the book.

The true quality of a college education can be measured by two questions at the end of your degree:

1) What do you know?

2) Who do you know?

How many hours you spent in class, how many labs you did, how much you liked or didn't like your professors, what your assignments were--none of this really matters once you're out of school, as your real-world performance is the only advertisement for the quality of your education. A university is technically only in service of stuffing information and skills into your head and people into your professional network.

A university that holds exams perhaps once every four months, that charges only to take an exam or pay-as-you-go lectures, and is built around a come-and-go learning method would add an incredible amount of freedom and flexibility for adults. You could take ten years for a degree, one year for a degree, or cycle in and out of "college" for your entire life. Lecture models would be built around the exams, with private tutors charging for preparatory courses or attached lecturers charging for full courses.

I think that modern college has become an identity-based lifestyle that holds young adults back from participating in greater society and excludes older adults from returning to education. Changing to an open university model would allow for more exchange of information at quicker rates. Furthermore, the enormous transient population of learners would need to be supported by the surrounding towns, which could easily be staffed by people attending or who already attended "college", but are unencumbered by class schedules or homework assignments.

Most of the other benefits that colleges offer--research, socialization, extracurricular clubs and societies, music--could be easily offered by voluntary societies that exist near the colleges.

This seems similar to the concept of "competency based learning" offered by schools like WGU

Why the animosity about in-person learning?

Traditionally, university has been far more than just exams or lectures. College life is an important chapter in the life of many: Being away from home, beingnon your own for the first time, being exposed to new ideas, meeting new people, forming your own networks, etc.

Why throw all of that away?

In the Netherlands, we kind of have such systems. There are online videos from previous years, so it is not mandatory to attend the class in person. All assignments are project-based and needs to submitted online. So during some semesters, students can be anywhere to finish the study if they want.

Meh, I really like project based and not exams, but it depends on the subject of the class. Sure exams could be a do at your own pace study. But couldn't projects be the same way?

Research universities let you in theory learn from people who are actively working in the field. Would losing that aspect be a significant loss?

Open University in Israel does this.