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This article considers why three in ten of UK 16‐year‐olds drop out of formal education, most never to return. It argues that the issue is of critical importance for economic, social and personal reasons. It explores three alternative explanations for dropping out. The first suggests that the UK is marked by a distinct culture of low aspiration. The second finds that the system of education was designed to foster anélite at the expense of slow learners and late developers. The third argues that young people are in fact making rational choices in the light of perceived circumstances. The article concludes with suggestions for improvement, including structural reform of the system of education and changes of attitude among providers. The government is urged to take the lead