[antninja]

Yes this article was specifically for Americans. I studied at the Sorbonnne in Paris and it cost me around 100€ per year. I thought most courses were a waste of time, though.

I think universities are like libraries: they are becoming obsolete in the age of the Internet. Knowledge is easy and cheap to access now.

[keithpeter]

Credentials still matter. Qualifications act as positional goods in some markets.

http://en.wikipedia.org/wiki/Positional_good