This is actually an idea that has been well researched and currently being implemented in several corporates. I am a Research Scientist in one, and their ambitions are along the same lines as yours. A student's behavior is analysed through some of the technologies like Machine Learning and, personalized content provided. Several features of student is learnt like, peak concentration hours of the day, the pace at which a student grasps topics etc.
This certainly is a great idea in using online resources, instead of expensive text books, especially for population like in India. However, there would be a need for a standardized content among some faculty, to ensure a certain quality and reliability in data. If you could address that particular problem, it would certainly help a lot of student from middle class backgrounds.
Although I appreciate the idea of looking into the area of personalizing the concept of learning, home schooling may not be really a healthy solution. Electives in college do give a medium to channelize our interests. However there is a basic set of knowledge everyone needs to know. And homeschooling disables a student from social interactions. If you can target at having a personalized learning in a social collaborative learning, your idea will be a gamechanger.