"The wake-up call has happened in the past couple of years. What we're seeing now is, people are saying that a college education may be the ticket to a better life, but not at any cost," he said. "We're finally seeing that the sustainability of this model isn't going to work. I think what you're going to see over the next five or 10 years is a number of colleges start to rethink their model."
"It's a great product to have when everybody wants it. Colleges have had the corner on the credential market, and that has allowed colleges to do, essentially, anything they've wanted," said Jeffrey Selingo, editorial director for the Chronicle of Higher Education, while speaking a Capitol Hill tuition forum earlier this month.