The predominant higher education business model of the future may be one where the education itself costs students nothing—the availability of free open educational resources is constantly growing—and students only pay small fees to cover the cost of assessing their learning.
“badges”
The Mozilla Foundation, funded by the people who developed the Firefox web browser, are sponsoring a competition for the creation of badge systems that will help students organize the credentials they receive from different providers.
Traditional degrees have the great advantage of being simple and universally understood. The problem is that they provide little information about what students actually know and are becoming more expensive all the time.
There will always be a market for boutique educational models that only the wealthy can afford. But for hundreds of other colleges and universities that lack such advantages or foresight, the future may not look anything like the past.