Labor economist Richard Vedder has a provocative article discussing the waste and heartbreak associated with low graduation rates (my own university has a six-year graduation rate of 40% for incoming freshmen, not unusual and much higher than some other Illinois universities).
Vedder suggests that low graduation rates, coupled with underemployment of so many college graduates, translates into a society madly shoving students to go to college "or else" their lives will be miserable. Perhaps we need to rethink that proposition, not a popular one when colleges are desperately trying to scoop up any warm bodies to "stay alive" during these hard times.
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