[DevMonkey]

Here are a couple of random thoughts:

Maybe we need to start outsourcing our education to China and India. We can send our kids to India for their undergraduate degrees and then they can come back here to get their post-graduate degrees.

Move towards knowledge certification instead of a degree that states you completed your degree. Bar Exam, MCSE, Board Certifications, etc. If you have the drive and capacity to learn without attending college then you should be rewarded only having to take a certification exam.

Once enough schools go belly up people can just start listing those institutions on their resumes. Since the school is close there won't be an easy way to verify. (Just kidding of course)