I offer another explanation: we simply don't value educated people. Kids have few role models who are educated or value knowledge. Careers emphasize narrow expertise. Business leaders often show very little understanding of the world outside of squeezing money out of others. We live in an age where access to knowledge is prioritized over knowledge itself, and dogma is difficult for most to tease from contradictory observations. We no longer portray reading or discovery as pleasureful in itself. Why would we? There is no money in showing the complexity of the world.
Simply put, if you were a child now, why should you care about education when it doesn't appear to be the key to anything you want? Money has taken the place of knowledge. On further inspection, this should not be a surprise to anyone who has bought into the dogma of a transaction-oriented reality.
Children these days are raised just as much by a culture that never figured out how to resolve the contradiction between making money and having values.
Blame is futile, though. Hold your children close and raise them the best you can, for there is no reversing the tide.