Thomas Lifson writes that “the reckoning is coming.”

The cohorts of students headed for colleges and universities is declining, and tuition has now priced itself beyond reach for many. The folly of student loan indebtedness is becoming clear to more and more young people and their parents.

At the same time

[…] online higher education is available for a tiny fraction of the cost of physical presence on a campus[.]

He concludes

No doubt, those who celebrate this transition will be castigated as anti-intellectual barbarians. But the real barbarians are those who drove academia into self-absorbed obsessions of the left, making it irrelevant to the needs of students, while overloading their schools with administrative dead weight that has pushed up tuition to unaffordable levels.

All is proceeding as Glenn Reynolds predicted in his book.