Look at the college enrollment rates since the 1960's. Look at the tuition rates since the 1960's Look at the distribution of majors since the 1960's
Then precede to look at the labor market. It all becomes very clear. There's millions of great young people roaming the halls of colleges who are not engaged in higher learning. Great young people who would develop critical thinking skills from work, family and good on the job training.
Many of these young people are told from an early age that college is a must in order to get anywhere. Whether that's true, I can't answer with confidence. I waited to go to college. After high school I decided to work, pay bills and taxes. In my late 20's I went back for a CS degree and am productive and happy now. Had I gone right out of high school I would have wasted a lot of time and money.
Is there even a solution to this issue outside of the family? Is the focus and quality of k-12 in the wrong place? Is it a mixture? Who knows?