The transformative effect of higher education--to change individual lives and remedy global problems of all kinds--is without question and it is shared equally among individuals. Public or private, two-year, four-year, research, and liberal arts--each of the institutions has a sacred responsibility to educate the next generation of citizens and to meet pressing needs, wherever they arise. Colleges and universities spring from a rich and wonderful past, and traditions are important. But that past cannot serve as a compass for the future. While giving deference to one's proud history, the challenge today is radical reformation. Change at the margins will not do. Reinvention or extinction--that is the choice the author gives to colleges and universities clinging to traditional methods rather than embracing the future. In this article, the author is calling for a fundamental departure from business as usual. He is calling for intentional upheaval at colleges and universities and suggests to remake colleges and universities to meet the unprecedented demands of this new age. Having led universities for nearly 30 years and with some perspective about managing budget difficulties, the author believes that although these are trying times, they also present great opportunities for colleges and universities--to think differently, collaborate more fully, and reconfigure themselves for the long-term benefit of their students and the nation.