David Leonhardt, writing for the New York Times:
Those dropouts point to some of the big flaws that our higher-education system does have. Many colleges graduate fewer than half of the students they enroll — and resist policy makers’ attempts to hold them accountable for their results. Some public universities devote much of their financial aid to students who do not need it most, creating hardship for others. And recent state budget cuts have caused painful tuition increases on many campuses.
Sad but true. There’s something broken about higher ed.
Where is the money going?