Well, it leads to affordable video teleconferencing for many of us. Guest lecturers can be brought into lecture halls via the Internet, with two-way interaction. And, of course, video teleconferencing means the end to driving to remote campuses, or even across campus. There are also distance-education possibilities. If there's no instructor on campus, bring in an authority from another campus.
Classes can converse with astronauts about their flights.
We will also have the ability to record and show classes for you that you might have missed. All of this will come through your computer, whether it's in your classroom, dorm room, or at home. While this may seem fanciful to some people, it is quite possible. The challenges to be met on campus include the structure of the network, the quality of service it can provide, and the guaranteed bandwidth of the network.