Imagine getting your Masters degree from a company (probably in affiliation with an educational institute). The degree could be highly specific. Instead of "mechanical engineering", it could say "research on car dashboard functionality". The basic courses that the student needs to work at the company will be taught by the institute or a person from the company. The student could take extra courses at the institute and audit some if they wish to learn something extra.
This could help the student with the fees. Since they work at a company, the company may help with their fees or pay them a stipend. Students do odd jobs to support their education. With this system, they could work in their field of interest. The best part is that they would put the theoretical knowledge to use, immediately. After the course, if the company and the student agree, they could be hired. This will eliminate the time required to learn the new job and how the company functions.
Instead of searching for employees who have the desired knowledge and experience, the companies could create such candidates.