WASHINGTON — The percentage of students at public high schools who graduate on time has reached its highest level in nearly 40 years, according to the most recent federal government estimates released Tuesday.
Based on data collected from the states for the Class of 2010, the National Center for Education Statistics estimated that 78 percent of students earned a diploma within four years of starting high school. The graduation rate was last at that level in 1974, officials said.

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An increase in the graduation rate indicates that our high schools are handing out more diplomas. But when 40% of high school graduates require remedial courses when they start college, what do those diplomas mean? I wouldn't break out the champagne just yet...