This is an alarming study. The LA Times article summarizes the findings by a study by Cal State Sacramento. The full report is also available here.
From the article, among the findings:
• California ranks last among states in funding per college student from state appropriations and tuition and fees.
• Tuition and fee increases exceed the national average rate of increase.
• The college-going rate of high school graduates rose from 53% to 58% between 2003 and 2007 but dropped back to 53% in 2009.
• California ranks 41st in the number of bachelor's degrees awarded for every 100 high school graduates six years after graduation.
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