The reason there is such a large premium for on-campus education versus online universities is because on-campus education is an experience as much as it is a service. If you're only interested in mastering the content, then online learning may be the place for you. That's why we see so many people pursuing online courses for their master's degrees and when they return to school later in life. They just want the cont…
The problem is, if you're going to fall back on that perspective, Real Life (TM) has all those things too, and it will continue to do so, for essentially free. There will be clusters of that sort of thing somewhere, just as there are "retirement communities" and "bedroom communities" and such. Universities certainly aren't bringing anywhere near enough value for their marginal improvement on those matters vs. what wo…
Most state schools are affordable. Mine is a top school and charges $9k a year in tuition for in state.
You can get all of the social, in person experience at almost any state school. You might not get a job at Google or Mckinsey but you also won't take on 6 figure debt.
The problem is everyone wants to go to the private/out of state schools with sky high tuition and only marginally better academics. Then there's majoring in unemployable fields but that's another story entirely...