A belief in individualism and opportunity is deeply ingrained in the American character. Anyone, the litany goes, has a chance to make a fortune, ascend the corporate ladder, gain election to public office, hit a home run, or earn a college degree if only he or she will draw on a combination of talent and dedication. Yet nowhere is this clash of democratic dreams and demographic realities more evident than in the American saga of higher education and social mobility. The author discusses the history of higher education over the past centuries and the changes it has affected for professors and students alike. The historical legacy that offered great expectations less than a half century ago is increasingly faint, pushed from the center to the margins of the American college and university.