I found this interview with author Kevin Carey about "The End of College" to be very much worthwhile. He talks about shifting understandings of the value of higher education, the ways in which college replicates privilege, why college is so expensive, and what college might look like in a few decades.
Carey's main prediction is that a handful of very expensive and elite schools will survive in the traditional model while the rest of higher education shifts to online tools and offline experiences that aren't concentrated in a specific location.
Some sort of major shift seems inevitable. As I watch my own alma mater Earlham College wrestle with increasing costs against the backdrop of a highly competitive admissions landscape, I have to wonder if I would spend the money to send my own children to a place like it.