People can do these courses on their own. I think Harold Bloom has a book on it and even F. Scott Fitzgerald designed an excellent curriculum for his girlfriend, Sheilah Graham. It's in her book A College of One. I'm plowing through Origin of the Species as we speak!
College in the liberal arts these days can be easily replaced with the Internet. Their sole value is providing “credentials” for any employer stupid enough to rely on “credentials”.
As employers slowly wise up the value of these degrees will get lower and lower, while the cost of obtaining them is getting higher and higher.
Colleges are beginning to get that “horse and buggy” feel to them.