I think you're conflating education and the granting of credentials[0]. Education is cheaper and easier to obtain than ever before. It's possible to work through an entire graduate degree program worth of study material using resources freely available online.

I think the problem you seem to be interested in - the rising cost of formal education that results in a degree will be solved not by reducing its cost, but by reducing its value. It will continue to cost a lot to get a degree, but you probably won't want one.

[0] which seem to be growing less important: http://paulgraham.com/credentials.html