In the last twenty years America's higher-education system has jeopardized our society's very future by allowing a serious decline in educational quality. Responding to modern egalitarianism and the need to attract students, colleges and universities have initiated wildly innovative programs, noncampuses, and nontraditional degrees. Worse, they have lowered all standards. Nonacademic entrepreneurs, attracted by generous federal funds, now demand equal status with established schools. And they are dangerously near receiving this full recognition from irresolute regional accrediting...