Oh I agree something needs to be done. I guess what I am saying is that instead of replacing the current system, whatever comes next will just add another layer to it. Instead of having the bachelor's degree as the golden ticket to employment, everyone will start to see the master's degree as the gold standard.

This might finally allow for some innovation at the undergrad level, but the end result will be the same: in an effort to handle so many students suddenly interested in pursuing a MS/MA, schools will lower the quality of education and dilute the value of the graduate degree. Then it'll start again with something else.

To actually abolish the current system and take up something new would require people with current degrees admitting they aren't the sole route to success, which is like saying you know the $2k TV is just as good, but you preferred to pay $40k anyway. This just won't happen.

My CS degree cost ~30,000 and took 3.5 years. I personally thought it was well worth it and a fairly good deal.

If you are an instate student who does not live on campus it's less than 3k / semester including books. So 12k pays for a degree that includes face time with actual teachers. I think I had one class with more than 35 students.

  Four Year Program Student Fees 2008-09:
  Fall and Spring Sessions:
  IN-STATE	
  Tuition and Fees	$ 2,449.00	
  Room	2,153.00	
  Board  (19 Meal Plan)	1,599.00	
  TOTAL:	$6,201.00	

  OUT-OF-STATE
  Tuition and Fees	$ 6,406.00
  Room	2,153.00
  Board  (19 Meal Plan)	1,599.00
  TOTAL:	 $10,158.00

I know MIT and Harvard both accepted some credits when students transferred so it's not a "low end" education.

PS: I got a 4 on AP English and after talking their test I was dumped into a remedial class. I thought this was insane until I took English 101.