The Ligonier Academy seems to be a great resource for pastors or laymen who would like to further their theological and biblical education but don't have the time or money to do so at a traditional institution (and who wants to be traditional, anyway?).
They offer three different levels of certificates, each one expanding on the last. The programs seem to be built around the "great books" paradigm where a student will read a book and then write a 500 word assessment afterward which will be graded by the Ligonier staff.
The intro Certificate assumes no former bible training and takes only 9-12 weeks to complete. Tuition is a paltry $99. The Adavanced Certificate looks to be similar to "M.div Lite." This program will run you $500 in tuition but that is for a directed study that lasts 2-3 years and encompasses 90 books and a research paper. This is pretty awesome.
Ligoniers is a credible ministry (started by R.C. Sproul) that gets the Gospel right. This looks like it would be a solid investment for your spiritual growth.