Due to rising costs of college tuition, is it likely that the future will have less universities and the remaining only for those of much wealth?
Hemelt and Marcotte wrote a paper studying the effect of rising costs on enrollment, and as it turns out, students who choose to pursue degrees have very inelastic demand; people are still going to university and they will keep doing so, despite these tuition hikes.

I think most students (myself included) have pretty imperfect information about the market, and they also forego a lot of searching because of the value of leisure. Most of their decision to go to school will be liquidity constraints and support from social/kinship ties. Liquidity isn't so much a concern nowadays, if parents really want their kids to go to school.

That said, there seems to be a shortage of manual/trade labor, such as in line work, which pays around 40$ an hour for starters (I think), but the population of laborers there are aging and due to retire. The job market could just be very sticky, and the demand shock for school caused by technology will slowly fall, causing tuition to fall with it. That's a bit more speculative though, and I'm not sure there's a lot of literature on rising tuition, on a very cursory glance.