What do you think of the idea of allowing a person to get the equivalent of a college degree through certification tests?

There are a number of online education sites that give courses for free. Most of them give certifications, which don’t count for anything. If these types of courses really take off then it would make sense to have independent testing places, where you would have to show up in person with a photo id. The tests would not be tied in to any particular online university but would be specific to a particular subject. It should not cost all that much to take the test, opening up the possibility of someone earning the equivalent of a college degree at a fraction of the cost and without any time constraints.