The document discusses the transformation of higher education from traditional models to more open and innovative models. It notes the rising costs and debt associated with higher education as well as questionable learning outcomes. It argues that new models using open content, social learning networks, and alternative accreditation could help address issues of cost, access, and quality. Specific examples highlighted include adaptive learning software that improved outcomes while reducing costs and an online university with much lower costs of operation than traditional schools. The document concludes by questioning if higher education can transition from traditional models to more open and innovative approaches enabled by new technologies.