by Jennifer Robinson, Financial Writer

According to a recent documentary entitled “Waiting For Superman,” it is estimated that by the year 2020, there will be 123 million high-paying, high-skilled jobs in the U.S., but only 50 million Americans will be qualified for these jobs.

If you haven’t noticed, the education system in America is in crisis mode. Reading levels, math scores, and graduation rates are dropping below many other developed nations in the world. College readiness is at an all-time low, especially considering how many high school graduates think they are actually ready for college. Furthermore, educational spending per student has grown from $4,300 in 1971 to over $11,000 today with no results to show for it. Take a look at the shocking college readiness statistics in the infographic below.

So where has the American school system gone wrong?

Follow the money to find out…