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? I am very sorry if this is worded wrong.  I've looked at the numbers myself and it astounding how much college has gone up in price even for commuters in a few decades.  People didn't need these massive loans in the 60's or 70's.  I am graduating in a year with a degree in Online Journalism and Media and spend over a grand a semester out of pocket AFTER loans and aid.

Many people think people like me are lazy because we need help to afford college.  I have seen articles of people who work 70 hours in the summer and full time during school during full time classes; but that a lot.  Some may not be able to handle that kind of stress especially if the major was like software engineering or IT Business.  

Given this, are they right in what they AND by the numbers and how America has handled things, is college likely to be non-existent or for upper class people and rich in the future likely?

OK!!  I am very sorry it got opinionated and personal in paragraph 2.  I'm a worry wart who is here to learn about economics in what concerns me.  Please just answer the big top question.
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.