Disclaimer -- I'm a cofounder at a similar program.
To give you some perspective, I am in $70,000 in debt from my undergrad CS degree, and that took four years. If this program would have existed when I was a freshman, I would have done the math, dropped out, and done this in a heartbeat.
16/4 = 4 months * 2 semesters/yr = 8 months.
We are naively assuming that semesters don't include test-weeks or other vacations and that all 16 weeks are education-filled.
Pricing for a college education [1] in-state public college avg ~22k private college avg ~44k
44k/8 months = $5500/mo
22k/8 months = ~$2750/mo
20k/6 months = ~$3333/mo
Pricing seems about right for a low end year of college.
[1] http://www.collegedata.com/cs/content/content_payarticle_tmp...
[edit: formatting]