"No registration, no enrollment, and no grades or credits are offered" from http://ocw.mit.edu/help/get-started-with-ocw/
But It is worthing to spend time on online courses now. I have finished some courses on https://www.coursera.org/ and https://www.udemy.com. I can always learn from the best. I finished my Bachelor's degree and Master's degree more than a decade ago. If I were able to access those course at that time, I wouldn't go to schools to waste my time and my parents' and my money. But that's a personal choice.
And I don't think my degrees matter much for job seeking nowadays. You can easily demonstrate your abilities by developing apps or contributing to Open Source projects.