As far as teaching 'Metasploit' in universities is concerned, there is an article on Rapid7's blog

https://community.rapid7.com/community/metasploit/blog/2011/11/04/teaching-metasploit-in-higher-education

@ l33t5h@rk - that's my pleasure to help u  

and I am just curious to know what exactly are u planning to do, I mean are you setting up some kind of lab to teach some students?
I have been trying for quite some time now to make my university setup a formal lab for security students but it's all gonna take lot's of time and talks with management. So a bunch of students gathered together and started building our own lab for practicing, it's still under progress
.
For now we are planning to use:
3 desktops running various OS's on Virtual box (XP, Vista, De-Ice, Metasploitable)
Some Alfa cards, Linksys router and AP for wireless penetration testing.
Webgoat, Ultimate LAMP for some Web App's stuff.

Following resources came handy for setting up our lab:
Professional Penetration Testing: Creating and Operating a Formal Hacking Lab by Thomas Wilhelm
http://www.metasploit.com/help/test-lab.jsp

Right, so I occasionally teach courses at local schools and am looking to assist in developing a new course (or courses) focusing on security, including one in penetration testing. This Patrick Engebretson book http://www.amazon.com/Basics-Hacking-Penetration-Testing-Syngress/dp/1597496553/ref=sr_1_1?ie=UTF8&qid=1323601871&sr=8-1 is basically a perfect foundation for say Pen Testing 101 for example, and I know at DSU.edu he offers some courses so basically what I'd be looking to do is model the course after this outline as well as a handful of other topics. They have an MSDN license and higher ed gets a massive discount on sw so I'm assuming setting up the lab won't be an issue, and most would just be VMs anyway. I guess my q w/ Metasploit was since the R7 purchase how that would affect it's free use but the ms framework is still free so that is all I'd need anyway.

While we are in the arena, can anyone suggest a good university? I obviously would be looking for a CompSci/InfoSec degree, I never took the SAT/ACT and I would like to get some programming classes, but if I do, I need a good introduction, as well, im going to need to crawl slowly through that. Anyway, i'd also prefer an online program, as I can't move ATM.

As for Info Sec degrees if I had the money I would attend:
http://isis.poly.edu/
http://www.poly.edu/admissions/financial/costs

As you can see its about $1250 a Credit hour almost 4k for a class, but if the class are like this one below:

One of the instructors Dino Dai Zovi and his 45 minute class:
http://vimeo.com/5146345

As well as about 48 or so other videos that he has post about his class.

If might be worth it, just looks like they go so in depth on their subject matter making other Graduate programs look well crap.

I also found this:
http://pentest.cryptocity.net/

Which seems to have quite of bit of education materiel for free on subjects like:

Intro to Pentesting
Operational Review and Code Audits
Reverse engineering
Exploitation
Web Hacking
Network Pentests