I disagree- the university setting only impacts a few degrees which were historically apprenticeships/trades anyway. Art, Music, and even Law Schools would better serve students by leaving expensive universities.
Of course, some subset of students will want a university and will be able to afford it; but in the far future, that will be a very small fraction of the current college fairing crowd.
I guess what I mean is, that for Art - a group of students learning from multiple artists and working together without a teacher (art school is really about the work you do after hours anyways) is the best way. Whether that counts as being part of a University program or not doesn't matter - it's the togetherness that does. Going over Art History on Wikipedia then painting the sunset in your bedroom does not prepare you creatively at all.
Millions of people make digital art in their bedrooms. Demoscene, deviantart, 3D abstracts, threadless, processing were full of people who weren't old enough to be in art schools.
Plenty are as prepared creatively as art school graduates. Seems that it depends on what your peers appreciate, how good they are, how high their standards are. In some art schools you may end up in a less skilled group just like on some internet cliques/forums.
Of course, some subset of students will want a university and will be able to afford it; but in the far future, that will be a very small fraction of the current college fairing crowd.