The "current form" is changing. I'm hearing more and more schools who integrate their curriculum with real-world projects, and who encourage travel and international study to expose the students to wider perspectives. I've seen some programs that almost make me envious of current students, and feel like my own education from 30 years ago was fairly lame in comparison.

I think college is getting better and more valuable with time, at least in some programs. I doubt the programs that are not evolving will fare as well in the future. But the costs are the true problem. If the evolution of higher education continues and becomes available to all, we could really have something.