Here is today's article from Inside Higher Ed which characterizes the challenge to liberal arts colleges in this way:
a changing college-going demographic that will result in fewer upper-class students, the traditional pool for a residential liberal arts colleges; increasing skepticism among the public about the value of a liberal arts degree with no direct ties to a profession; the rising costs of educating a student, which will likely result in even higher tuition; and a changing understanding of technology that might require greater inclusion of technology in the curriculum, both as a tool for learning and a subject.
And yesterday's article discusses Coursera, the Ivy League version of the people's university (an oxymoron I suppose). This article explains that MOOCs stands for 'massively open on-line courses.'
The Brooklyn Institute is another option in the changing landscape.