<p>These days, almost everything can be taught at home. The Khan Institute teaches math beyond calculus, economics, and other subjects on line. The Teaching Company has lectures on virtually every subject. Many universities have courses online through Apple University, etc. However, for many students, there is a benefit in personal interaction with a well-qualified professor and intelligent peers. As far as teaching, the only subjects that require brick and mortar are sciences labs, and art and music studios - and some ambitious and wealthy people can probably handle the art and music studios at home too. </p>
<p>While I can see education moving toward independent study for autodidactic polymaths who simply test their way through higher education without ever seeing a classroom, I wonder about the social costs of such isolation. Where an excellent education is available to all at home for far less than tuition, room and board, college could become the place where elites who can afford it make connections. Experts can be found by looking for those who test well in certain subjects.</p>
<p>As frazzled2thecore pointed out, to read a book is not to understand it. Being widely read is no guarantee that one is well-educated. Attitude and approach to intellectual pursuits probably plays a significant role in whether one truly becomes well-educated, or merely an awesome trivial pursuit contestant. The latter might be well-educated, or might simply be able to recall a lot of facts without much understanding of what they signify or of their context.</p>