Check out Marvin Olasky's interview with Charles Murray, who has written a book arguing that too many kids go to college. An excerpt:
"Upper-middle-class parents, when it comes to shopping for education for their children, act like drugged-up pop stars on Rodeo Drive. They buy by brand name, they don't check the quality of the product, they pay outrageous premiums, and they don't bother to check later to see if the product was actually delivered."
Can you imagine what college administrators would do if a great portion of their customers started opting for intensive vocational training and certification, rather than the four-year mish-mash that comprises the average university curriculum?