“College costs are up, graduate pay is down, and 40 percent of students never get a degree,” Bloomberg BusinessWeek reports. “For many, return on investment is a cruel joke.”

Some colleges and universities in Oklahoma boast a respectable return on investment (congratulations to the University of Tulsa, which tops the list). But for other schools, the return on investment is actually (gulp) negative. Graduates of those schools “actually fared worse than those who dropped out after a few years—the financial benefit of earning a degree was so meager that the added expense it entailed was simply not worth it.” (Methodology quibblers can take it up with Bloomberg BusinessWeek, not with me.)

As I’ve been saying for quite some time now: “Does Oklahoma need more college graduates? Yes and no.”