yeah, so, I was rushing. I edited the previous post: what matters is all the things that go along with cheaper schooling, not that fact that it's cheap.
Sounds that it is a lot about credentials. Sadly enough it is. My experience with my education in industrial engineering at "university of applied sciences" in germany (whatever that would be in the US...) was rather good even when compared to the big names around here as far as knowldge is concerned. Yet, the fact remained that it wasn't a big name.