The cost of Internet MBA is 0 just like other programs offered by most of the Swedish universities. Moreover, you save on the living expenses of the country as well!
Admissions to the program is like regular admissions; you have to have a bachelor's degree, and show English language proficiency, etc. The university is selective in whom to give admission and whom to reject. For example, for Internet MBA, BTH gets 800 applications out of which it short lists around 70. Attendance is must and there are quite a few rules which make it challenging.
Not only that, I found quite a few programs taught using the Internet:
- Masters in Geographical Inforamtion Systems (GIS) from Lund University
- Master Program in Information Security from Lulea University of Technology
- BTH also offers a Masters of Science in Informatics
- A number of courses at Karlstad Unviersity; specially IT, Project Management and Enterprise Systems
Considering the fact that Swedish universities offer world class education (not to forget a "recognized" degree), it's nice even if you complete only a few credit hours worth of courses from these universities.