College in America Does Not Work the Way It Used To There was a time in America when college was considered to be for too expensive and only for the elite. The cost of a four year degree was almost equal to the median family income. Only about seven percent of high school graduates ventured forth to the ivied halls. The academic demands were rigorous, but if the student earned her coveted sheepskin, a job and middle-class, or better, affluence were a virtual certainty. Generations of parents and students grew up with this vision. Today the popular belief is that college is for everyone...