This article touches upon the idea of new educational models which are a guarantee of social well-being. We argue that a classical model of university should necessarily go through a series of changes due to many objective reasons. Contemporary epistemology is symbolizing renaissance. Nowadays knowledge is transformed into information. Hence, information may be interpreted as that, what changes us or as past experience. We bring to the attention different educational models such as: a model of world-class university, an elitist model, a mass model, a two-level model, a networking model, a university of the third age. University is more and more involved in solution of many problems of modern world such as, training of specialists, social elite education, and provision of universal level of education. We also argue that the key task of educational process now is pragmatic values formation instead of the development of inner world of a person through educational process. There are new criteria for understanding the level of developing society. We put particular emphasis and consider the educational model of lifelong learning as one that gives the opportunity to students of different ages to study in various fields of science. This is unlimited research process the sense of which is to find truth, discover new form of knowledge during whole life-time.