While I would not go as far to argue that it isn't a fine idea have a formal degree for classes completed there are some other options. One such website is http://degreed.com. But something that I don't agree with is the "fact" that one needs a degree to compete in the world. That simply isn't the case. Degrees open some easy doors, but true competency in, passion for, and mastery of a skillset will do just as well. Someone without a degree might have to be a little more creative, they can't send in resume's cold. But they can get referred by friends, get picked up by demonstrating high level skills, join a start up, start their own business, and the list goes on.
Of course it's easier with a degree. But I only argue that it isn't necessary. And I might even suggest that it is harmful, especially if the degree is going to put the degree getter into large amounts of debt. Fortunately their are a wide community of people who support this idea that your student could learn from, such as UnCollege, and Zero Tuition College.