This sort of approach works very well with some students and completely fails with others. There is a medical school in Ontario, McMaster University's, that takes a "self learning, creativity" approach. It has no tests, no curriculum, etc, until the final exams at the end of years of attendance. The result is some truly excellent doctors produced from McMaster, and some absolutely horrible ones. The result of that is that whenever other doctors hear somebody graduated from McMaster, people are weary until they prove themselves, whereas at other schools, they are assumed to be competent.