What bad students know that good economists don’t, Bryan Caplan says, is that the return to trying to get a degree is far lower than the return to successfully getting a degree:
For students in the bottom quartile of academic ability, paying a year’s tuition is almost as foolish as buying 10,000 lottery tickets.
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College is a great investment for great students, a mediocre investment for mediocre students, and a bad investment for bad students.
Some things are true, even though Bryan Caplan does say them. Even a stopped clock is right twice a day…