Higher Education today have serious difficulties in meeting their educational task, about what could be done to assist and promote the student both personal enrichment and its human flourishing. Dimensions focus on two key educational concepts: the development of critical thinking and effective ethical and social commitment. These difficulties have multiple perspectives and analysis factors, but one of its main elements is marked mercantilist approach this level has now acquired. And consequently, their tendency almost exclusively to educating for employability. On the one hand, this communication analyze critically the weaknesses detected in the current hegemonic paradigm prevailing in Higher Education in Latin America. On the other hand, it investigate in those educational potential showing an emerging approach in higher education, namely the capability approach. The paper is divided into the following topics: 1) show what the current problem of the formation of Higher Education students; 2) analyze the weaknesses that displays the current hegemonic paradigm of higher education, namely a competency-based education; 3) analyze the main educational potential of the capability approach; and finally, discussion and conclusions. We conclude that the capabilities approach shows comparatively higher educational potential for human development adjusted college student, with respect to those offered by the current approach competency-based education.