In spite of all positive aspects of higher education, there are something that I would like to change, if I had the authority.
First change would be the process of getting tenure track. The level of stress during the first few years of a new faculty member is too much. In the last decades, the competition to get and keep a job as a faculty member has increased tremendously. The number of applicants increased, but the needs for new faculty members have not kept up with the increment. It all leads to a huge and in some cases unbearable pressure on new faculty members, who are working toward getting tenure.
Second change would be putting more emphasis on concept of knowledge; learning for the sake of learning. Nowadays, universities mostly try to attract new students by selling the concept of success not knowledge. Their advertises mostly focus on how much more money students will make after their graduation.