"Does college matter?", from Kathy Sierra. This is one of Kathy's older post, July 14, 2005.
"I'm no longer convinced that we should assume a traditional four-year college should be the automatic default for all high school grads, esepcially given the state of these institutions today. And I seriously wish people would stop looking at me with pity and concern, shaking their head when they realize Skyler ("but she always seemed so bright...") isn't going to a "real" college. Wake up and smell the 21st century... "
Here's a recent video of what college students are up to these days.
Jon Udell has more here, "The once and future university"