I think international enrollment may very well start to be a thing.
But I would point out that in Europe, there's people crossing countries on a daily basis just commuting to work, while in the US, there are families who haven't left the country except for brief vacations, or not at all. Living in the US is all they know, and all they want, and the parents are already twisted up inside about having their kids leave home, to consider sending them halfway around the world adds to their stress.
For many years college has been seen as the indispensable class gateway to access the middle-class life. No introductory price could be high enough to offset the prosperity the graduates would see on in their career. This vision changed VERY suddenly: http://en.wikipedia.org/wiki/C...
The cost of college grew at a lightning pace since the time the parents had gone to college, the kids had never dealt in financial matters, and the intangible debts accrued were a problem for the future when the kids would already be enjoying a successful career that would allow them to pay it down...except that with the recent financial crisis and recent-graduate employment rates falling off a cliff as recently laid-off middle-age workers are taking up entry-level positions, the young graduates found themselves with significant debt but without the middle-class career path they'd counted on to help pay down that debt. I think that international enrollment will indeed grow in response to this problem unless something else is done to address it. It's just that this problem had hit so suddenly that the culture of choosing colleges hasn't shifted quickly enough to keep up. Colleges transformed from a gold mines to minefields in a short time span. We're seeing the opinions shifting now though.
It's important to bear in mind that the massive spike in tuition is at least, a progressive pricing structure (though it has its flaws and gaps). US colleges defend their pricing by saying that the ridiculously high tuition is the list price that gets charged to the more affluent families, and that inflated price helps allow for tuition discounts to the less affluent families to get into the college.
There is some nuance to that pricing structure. TL;DR, if a student goes to a reputable STEM college to major in STEM, then that high tuition is funding the salaries of famous professors and their projects that make your STEM college reputable (and your degree as well). If a student goes to that college to major in art history, they're probably going to get a very bad deal out of it.