I'm editing this entry from "Master's Degree in Electrical Engineering Online" to just accredited degrees one can obtain online. Note that pricing may change over time.
Finally this is now possible, here's the email I received, $667 / hour for 30 hour Master's Degree, using Coursera Platform, not bad:
Dear Timothy Law Yuh Guang
The University of Colorado Boulder is proud to announce a cutting edge MOOC-based master’s degree in electrical engineering: the MS-EE. An affordable, global master’s degree...powered by you.
Learn more about the degree and sign up for updates on Coursera.
Start your journey toward the MS-EE by enrolling in any of the following affiliated non-credit Coursera specializations:
Embedded systems engineering and the internet of things:
Embedding Sensors and Motors (MS-EE)
Developing Industrial Internet of Things (MS-EE)
Optics and photonics:
Optical Engineering (MS-EE)
Semiconductor Devices (MS-EE)
Active Optical Devices (MS-EE)
University of Oklahoma
Master of Science in Applied Computing
$29,550 for the entire program ($985/credit hour)
There are other Engineering Master's programs (i.e. civil engineering) for similar tuition cost.