The University of Wisconsin may lose funding and professors and other staff may lose collective barginning rights, although I do not live in Wisconsin and am not sure how Walker's policies would affect the university.
But as many critics have pointed out, higher education has become quite inefficient and much to expensive for many. I have found a number of books which raise different criticisms of colleges and universities. One criticism is that the need for a collge degree is being exaggerated because many college graduates do work that is unrelated to their major. Administrators are more interested in their careers than in the education of students. These criticisms seem to hold much merit.