There appears to be ample evidence that traditional colleges and universities are ill-equipped to meet the needs of those who will be learning for the rest of their lives. Most of us hear from our colleges only when they want financial donations. I am considered by them to be a potential donor, not a source of continuing income as a student. Yet lifelong learning is essential for anyone wanting to thrive in the next century. Educational institutions that grasp this concept will similarly thrive.
Institutions better make sure they are meeting the needs of their clients.
I believe this new model would greatly effect the current rate of recidivism at the university today. I had an interesting experience in mid-1998 during a trip to Chicago. I visited a Viacom store and saw they were selling graduation rings for the Star Trek Starfleet Academy. Since many of my friends think I'm from another planet anyway, I bought one of the rings as a joke. I'm not a Trekkie, but I've seen enough episodes and movies to have a sense of the theme.