My daughter is reading Academically Adrift, Limited Learning on College Campuses. I'm reading it too because every other paragraph she feels compelled to read it aloud to me. We're only to page 81 of a 200 page book and I can say it would be worth your while to seek it out. For example, they point out that in recent decades 30% of C students and 15% of C- or lower students are admitted to college. Realistically, how many of them are going to find success at college? The book also points out the number of students who don't graduate after 5 years and 6 years (I can't find the number right now)-- in other words all those high schools who brag about their % of students attending college aren't telling their parents how many actually graduate.
This is why a college degree is worth less today even though it costs more.