Wow, good ol' Cyber Corp! I entered the program (the one in Tulsa, it's also at other schools, but Tulsa is the "heart" of the program) in January 2003 and had my MS in Comp Sci in 3 semesters, graduating in May 2004.
You're able to go to school full-time because they pay for your books, tuition, AND give you a stipend for housing/food/living either on or off campus. And that buck goes pretty far in Tulsa (I think my 2 bed, 2 bath appt was $550/month).
I went through the NSF-version of the program. The DoD version was for military personnel only (I think?) who wanted to get a better degree.
I was one of the few that didn't go to NSA. Wasn't comfortable with being a super-spook (especially during the Bush years), so I went to a more "benign" agency. You MUST make sure that you'll be able to get a security clearance before you sign up, because if you get selected for the program, go through it, and then can't get a job because you're not clearable, you owe ALL the money back (like $40K or so). However, I had one arrest with a suspended sentence (minor pot possession) and was able to get a Secret clearance with no trouble, though YMMV.
TU (University of Tulsa) has had an Information Assurance program since loooong before it was popular (very early 90s?), so they've had time to build up talent and are VERY well connected in terms of getting you a job. You're pretty much guaranteed a job at NSA. I know several folks who went there and enjoy the work. I know several others who didn't and left for the private sector after their "time as up".
It's a "scholarship for service" system for paying back your tuition/stipend. If it takes you 3 semesters to get your degree, you have to work for the Fed Gov for 18 months to be fully "paid back". Then you can quit the Gov and go work for a contractor and make big $ since you're already cleared. I stayed in Fed service for 2.5 years and then went back to the private sector.
Feel free to ask me any other questions. It was a great deal and I'm so happy I was able to get a free MS out of it.