I did a correspondence writing course once, quite a few years ago now. It was a different course, so I can't comment specifically on Long Ridge, but if it helps I can tell you what my experience was like...
Firstly, I didn't finish the course. This was because I emigrated when I was about three-quarters-way through, not because there was anything wrong with the course, but it does mean that I ended up without having achieved the holy grail of writing courses, which is to have published something by the time you finish.
That is the real aim of most writing courses - to get the student published. For them, it's their big selling point, and for the student, it's the chance to recoup some or all of the course costs, and to get the first crucial foothold in the market.
Despite not finishing, I did learn quite a bit from my course. But if I'm pushed, I think what really made it worth the money was the motivation it gave me. Having the coursework to send in was suprisingly motivational, and that definitely helped me with my writing, and with my confidence when it came to submitting work to publishers.
In any case, I wish you all the best with your course. Perhaps you should write an article about the experience when you've finished?
ps - just a thought - it might be an interesting excersise once you've done a bit of the course to submit some of your coursework to Lit.org, and see what the residents here think of it... see if their opinions differ from your tutor's. (of course, your tutor is probably better qualified to judge it than anyone here, but it might be interesting nonetheless).