Think about it. US Colleges and universities have invested in fixed assets, whether in sports arenas or science labs, to a huge degree in the last 20 years in order to compete with one another. Fees have rocketed, leaving graduates with staggering debts. Yes, they are more likely to get jobs than non-graduates, but many have to live with parents and postpone things like marriage or home buying and will live with debt for many years.

Meanwhile income for the middle class has stagnated and in some cases gone down. How will parents be able to fund education of their children in this case? With increasing difficulty.

Thus you have a situation where a smaller number of people will be pursuing a college route they can’t afford. At some point the bubble has to burst. There are simply fewer and fewer people able or willing to pay the outrageous fees demanded by American universities. If and when more people give up and raise their hands in despair, colleges all over the country will go bankrupt, because their buildings and facilities cannot be used for anything else. The elite universities will continue to do well. The more obscure will not. Add to this the threat of on-line courses, which mean that elaborate dorms and classrooms, along with teaching staff could become redundant, and you have a perfect, self-induced storm. And this has been “organized” by some of the finest brains in the country, many of whom have business schools on their doorsteps! Ever heard of business strategy, chaps? So far no one has found a way to make an on-line degree credible to employers. So far.

This issue is important to followers of Epicurus, for whom knowledge and the ability to think for yourself and discuss issues in an informed and logical way was vital for the good life.
Moreover, the trend towards elite education for only the financial elite offends everything he stood for. Recall that he welcomed all civilised, thoughtful people into his Garden, regardless of income, race or gender. This was revolutionary in his era.