Surely it depends what the course is offering as to whether it's a "rip-off" or not. I'm sure it's not LITERALLY a course on "how to read great literature" in the sense of saying "start on page 1. When you reach the bottom of the page, turn over and read page 2...", etc.
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If it's a course offering suggestions as to what constitutes great literature, why certain books are "great", etc, then $120 seems like a pretty good price. I recently paid a heck of a lot more than that to go on a weekend course on the "History of the English Novel".