The report shows that many colleges are not fulfilling their promise of upward mobility to students.

The New York Times reports.

Hidden Side of the College Dream: Mediocre Graduation Rates

To rise in society, “go to college” is such a proven prescription that Michelle Obama made a rap video of it. But while, on average, college graduates have lower unemployment rates, earn higher wages and even have longer-lasting marriages, there’s less discussion of the many students lost between enrollment and graduation.

The challenges can be greatest for the 7.2 million students who need federal loans to attend college. According to a new report by Third Way, a Washington-based think tank, only 55 percent of these students who attend private nonprofit colleges graduate within six years. Of the 1,027 private colleges studied, 761 have graduation rates of less than 67 percent.