You may have heard about Trina Thompson. Unable to find work, she's suing her alma mater, Monroe College, to recover $70,000 in tuition. The Thompson case may not turn out to be the precedent-setter that some theorize, because Monroe makes unusually bold promises to students about post-college success. But the sad truth is this: Practically all colleges are failing their students nowadays, and in most cases at far greater expense than Monroe failed Thompson, says Steve Salerno of The New York Daily News.

Historically, criticism of education in America has targeted grade-school and secondary education. Indeed, perhaps the best thing...

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