College Is a Waste--But Not Going Is Much Worse

Every day brings another news story about unemployed and underemployed college grads. About 48 percent of employed U.S. college graduates â??are in jobs that the Bureau of Labor Statistics suggests requires less than a four-year college education,â? according to a report in January by the Center for College Affordability & Productivity. In 1970 fewer than 1 percent of taxi drivers had college degrees; now more than 15 percent do, the center says. Factoids like that inspired this fake headline today in the Onion satirical newspaper: â??College Graduate First Person in Family to Waste $160,000.â?