Although I agree with you in many ways, Val, there does continue to be a great deal of evidence that a BA vastly increases one's earning power. Of course, many underprepared students don't GET the BA, but no one starts off thinking they will drop out.

My feeling is that many problems stem from the fact that well-paid, secure maunfacturing jobs have basically vanished. I agree that not everyone is cut out for college, but realistically, there are now few jobs available where one can earn well without a degree.