"The more money spent, the worse it tends to be."
Which reports? I know that some inner city schools that spend lots don't do well, but i also know that some of the top-rated public schools in my state also spend the most per student. And poor rural areas that spend the least also rank near the bottom in test results and in the percentage of kids who go on to college.
But private schools and homeschools do not. Lots of money per student doesn't mean the money is getting to them. It often goes to administrative costs.
Census: Nation's Public Schools in the Red http://www.freerepublic.com/focus/f-news/1365994/posts
The percentage of kids who go on to college is not indication of the success of that student in life. So what if someone doesn't go to college as long as you can support yourself.