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SCOTT JAGOW: Young people in China are a little cynical about college. In a new survey, a third of graduates say their education was a waste of time and money. Jocelyn Ford reports.

JOCELYN FORD: Half of the students surveyed said they didn't learn anything practical in University. And 40 percent said told the China Youth Daily newspaper they couldn't land a job.

That's a huge difference from a decade ago. In the 1990s, Chinese graduates were guaranteed a job. The government gave them one. Now that the market economy is taking over, that's no longer the case.

Meanwhile colleges are increasing enrollment to earn more money.

The critics say the exam-oriented education system churning out passive bookworms, rather than people who are useful in a business.

Headhunter Larry Wang offered this observation:

LARRY WANG: "A lot of these university students don't have real world sense."

China is trying to reform its education system to make students more creative.

In Beijing, I'm Jocelyn Ford for Marketplace