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Our country has a huge problem with college drop outs too just as with high school drop outs and the sooner our policymakers realize this, the better. This phenomenon has been catching the attention of conservatives for some time now.

As compared to college drop outs, college graduates earn a lot more. Those who earn more naturally pay more income tax which in turn helps our floundering economy by filling the coffers at the state and federal levels.

The sad state of affairs however is that only about half of the students who enroll in colleges come out as graduates today. Students themselves are forced to bear the brunt of dropping out and are burdened with huge student loans. Unable to earn a bachelor’s degree, they forfeit an opportunity to earn well. 

It is worth calculating the amount of money drop-outs spend in college. However it must be done precisely to give an accurate picture. Reports must focus on providing a clear picture to the society with an ability to grasp the impact of policies that force people to waste a year of their lives building not their path to a career but a huge debt in pursuit of a dream that they are unable to realize.

The goal of students on whom our state and federal governments spend over $1.5 billion every year, must be questioned first. They must determine the reason for which these students are sent to colleges in the first place.

One of the main reasons why there are so many drop-outs is that students are not very well prepared for college courses. Research reports must not assume that students who drop out of colleges have the same level of discipline, intelligence, background and drive as compared to those who successfully graduate.

Lost income levels must not be exaggerated beyond what they actually are. Reports must not also assume that students who complete their degrees will certainly earn as much as their peers. Both these assumptions do not have any strong basis.

There is no doubt that many students today accumulate a mammoth amount of debts that runs into thousands of dollars with no hope of possibility of repayment any time soon. Reports fail to logically conclude that it is not really a good idea to provide access to college education to a broader section of population.

This type of social engineering that is supposed to benefit many has a huge impact. Though well intended, it is as devastating as the policy that expanded home ownership to sections of society that could hardly afford it. Through their noble intentions, those who offer solutions often cause harm.

There is no dearth of jobs in segments such as manufacturing, trading and services that could be filed by Americans in a productive manner with just a couple of year training at community colleges. What we are doing today is to perpetuate an illusion that it is imperative for all to get a bachelor’s degree. This leads to a situation where we are all hurt by an environment that does not allow people to prosper and represents a misallocation of fiscal and human capital.