In 1995, the nation's 3,600 colleges spent $201 billion. Critics complain that for that much money, their graduates have not been subject to very rigorous quality control standards.

• Over one-half of a national sample of upper-class college students in 1993 were unable to perform cognitive tasks at a high school level, according to a RAND Corp. study.

• Three-quarters of the faculty surveyed in a recent poll felt that their students did not meet even minimum preparation standards.

• A 1987 Gallup poll of more than 700 college seniors found that 24 percent thought Columbus arrived in the new world after 1500; 58 percent did not know Truman was president during the Korean War; 55 percent could not identify the Magna Carta; and 23 percent thought the statement "from each according to his ability, to each according to his need" was part of the U. S. Constitution.

• According to a recent article in the Wall Street Journal, a bachelor of arts degree in 1997 may not be the equal of a graduation certificate from an academic high school in 1947.

Source: Walter Williams, "On the Dole for Education Dollars," Washington Times, February 22, 1997.