> Estimates of the economic returns to higher education tend to assume that all students will graduate. In practice, around 30% of students in Europe and 40% of

> Estimates of the economic returns to higher education tend to assume that all students will graduate. In practice, around 30% of students in Europe and 40% of students in America will drop out before earning their degrees. This leads to a dangerous debt situation. I saw this up close in New Mexico. The state gave everyone a "bridge" scholarship which covered the first semester of college. Students who had no business going to college would go anyway and get a loan to cover the second semester. They would fail out and be stuck with a nasty loan for no good reason.