You might want to offer your friend some good advice to cut his losses while he still can....
He's too naive to think that he can associate himself with the prestige of a "MIT" degree... Come on lah.. an entire bachelor degree program delivered online?? How will the students get to have hands-on lab experiment sessions, face to face tutorial sessions, class quizzes and examinations? how to conduct all these via the internet??!! You must be mad to think that employers will dare to employ someone who attained their degree through this kind of channel... Insane!!!