College, Sex and Boredom

Going to college significantly increases one's lifetime income. So why don't more people do it? Caplan speculates that it's because many students find school boring, and they are not willing to pay the boredom cost of college even if it means a high lifetime income.

On a related note to college, Newmark's Door links to a post arguing that the high female / male ratio at some colleges is making the dating / hookup environment a lot more fun for men, and this trend is likely to continue as the percentage of female students at colleges keeps going up.

So if the number of men who go to college keeps falling won't Caplan's thesis be falsified?