Fast-track degrees in business, finance, accounting, law and computing will be provided by Coventry University College, a wholly owned subsidiary of the university, from September 2012.
The new college will ditch the traditional term or semester structure of universities and divide the calender year into seven six-week teaching blocks. With classes running seven days a week, continuing until 10pm on weekdays, the college believes it can deliver a complete degree course in under two years, with students finishing by June of their second year.
Students will be able to fit their course around work and family commitments, with full-time students charged a maximum of £4,800 a year. Ian Dunn, pro-vice chancellor for student empowerment at Coventry University, admitted that the college would not be able to offer "the full university experience".
"These students are only paying for tuition. This is broadening our offer to a different group," he said.
"It could be for full-time students who are more debt-averse, while others can earn as they learn. Students will be able to continue with part-time or full-time jobs, live at home and keep up with family responsibilities, while equipping themselves with higher-level qualifications."
Courses will have their own dedicated tutors, and classes will have a maximum of 25 students and tutorials no more than five, he said.
Curricula will be developed with professional bodies and will be validated by Coventry.
Courses will be offered by the Universities and Colleges Admissions Service from this week, and a recruitment campaign for staff and students has started.
Operating as a subsidiary company of Coventry will allow the college to offer different terms of employment and recruit more intensively from industry, Mr Dunn added.
John Dishman, director of academic quality and enhancement at Leeds Metropolitan University's Faculty of Business and Law, will join as chief executive on 1 November.