Many years ago, I asked an associate professor of psychology: "how many of the students you encounter in class belong in a university".   He hesitated and said:  "one in five... and the other four are just there for the university life"!!!

Most arts and soft science grads cannot find a job and may return to community college to get a working diploma.  IOW, they wasted 3-4 years of income and lost their tuition and other expenses.  If they had not gone to university, they or their parents would easily have $15-20,000 in the bank.

Richer parents store their children in university and hope for the best..... and suffer financially because their kids are useless for the job market.... oh well .....