And the flattening continues: America's top-heavy educational institutions are starting to crumble.

Higher education, prior to the social spasms of the late 1960s, was a very different entity than it is today. Hardly perfect, having a "college degree" meant something then. It meant that you had undergone a passage, a set of experiences and to some degree had mastered important skills and knowledge. It set one apart. To announce you have a college degree today has all the heft of reporting that you have cable TV.