I am posting this as a follow-up example of a modern, cost effective fully acredited University. Colorado State University in Fort Collins CO. If CSU can do this so can UAA & UAF while reducing the real-estate footprint of multi campuses in Anchorage, Fairbanks, MatSu into one campus.
Cut and paste from CSU site:
CSU has a decade of leadership in online education
CSU-Global was created by the Colorado State University System Board of Governors in 2007 as the first independent, 100% online state university in the U.S.
icon	100% Online and designed for working adults flexibility
icon	Top 25 Ranked Online Masters of Criminal Justice Program
icon	Fully Accredited and Respected Colorado State University
icon	Financial Aid Available For Those Who Qualify

Bottom line is the University of Alaska can and must cut costs while providing a higher education that meets the future needs of Alaska. The best and fastest way is to close down multiple campuses all over the state.