Now that we’ve all had a good airing of grievances about elite colleges and their attendant injustices, let’s get some perspective.While the numbers of high-school graduates heading off to college have increased in recent years, the percentages graduating with a four-year degree have not increased much. Many students, especially those who are the first in their families to attend college, drop out before receiving a degree. (They cannot drop out of student-loan payments, though.)Data from the Lumina Foundation show that among Americans aged 25–64, 52.4 percent have no more than a high-school diploma (though 15.4 percent of them attended college for a while). An additional 5.2 percent received a certificate of some kind, and 9.2 percent obtained an associate’s degree. What most people think of when you say “college” is a four-year institution. Only 21.1 percent received bachelor’s degrees, and another 12.2 percent also earned graduate degrees. Adding the last two categories brings the f...
