I need to research this further but this US Naval War College program may amount to a free Master's Degree for those interested and eligible to enroll.
It's based on the US Navy's Professional Military Education program, so
(1) not everyone would be eligible (but probably a larger range of people than active-duty Navy);
and
(2) not everyone would be interested. Still, it's an opportunity that's out there.
http://www.nwc.navy.mil/admissions/fsp.aspx
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