This is potentially the leading edge for many higher ed institutions. Just as Krispy Kreme and Starbucks did, colleges/universities have saturated the market. Add in annual tuition/fee increases that far exceed wage gains, and the model begins to resemble the leaning tower of Pisa. With rumblings of loan forgiveness, lending agencies may change their lending practices (being paid by the Fed guv'mint is not a sustainable pattern either, as the debt grows and more of the Fed budget is eaten up with interest payments and social programs). Cost of materials and labor to renovate/build imposing new edifices for the College of Underwater Basket-weaving will soar. (Wait until the phenomenon of $20/hour for fast food workers spreads across the country; if you think hiring an electrician or plumber is expensive now -- HOOOO BOY!!)
Add in the slow but growing trend by employers not to require a four-year degree for many roles, and college and its accompanying debt will look less attractive.
I am not suggesting the total death of colleges/universities - but I am predicting a shake-out that will significantly cut the numbers of those higher ed places. Having worked at Duke University and seen the inefficiencies that are allowed to exist, I would encourage schools to begin planning now for their financial future.
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