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I remember reading Robert Ludlum novels back when I was a teenager, and "Carlos the Jackal" was one of the mysterious terrorists in the background. There was almost a romanticism about it. Well, he's obviously not so mysterious or romantic.

The man known as Carlos the Jackal, once one of the world's most feared and hunted terrorism suspects, went on trial in a Paris court Monday for a series of bombings nearly 30 years ago.

Venezuelan-born Ilich Ramirez Sanchez was smiling and defiant as he was accused of being the mastermind behind four attacks in France in 1982 and 1983 that killed 11 people and injured nearly 200.

Asked to state his occupation, Ramirez, 62, replied that he was a "professional revolutionary," adding, "of the Leninist tradition."

He then insisted that although he had been born in Venezuela he had been given Palestinian nationality by the late Palestinian leader Yasser Arafat, whose cause he espoused.

With his gray hair, beard and reading glasses and needing a chair for his "bad back," Ramirez bore little resemblance to the photographs of him with dark hair, Che Guevara beret and sunglasses when he was at the height of his notoriety in the 1970s. While on the run from police in his heyday, he was reported to have had plastic surgery to change his appearance.

However, he had clearly lost none of his ability to provoke, giving a clenched-fist salute to a supporter on the public benches and leaping up to rage, in heavily accented French, about the "racist, Zionist state of Israel."

The outburst drew a round of applause from a group of young men at the back of the courtroom, prompting a warning against disorder from the president of the court, Olivier Leurent.

Daniel Schwartz could have attended an Ivy League school if he wanted to. He just doesn't see the value.

Mr. Schwartz, 18 years old, was accepted at Cornell University but enrolled instead at City University of New York's Macaulay Honors College, which is free.

Mr. Schwartz says his family could have afforded Cornell's tuition, with help from scholarships and loans. But he wants to be a doctor and thinks medical school, which could easily cost upward of $45,000 a year for a private institution, is a more important investment. It wasn't "worth it to spend $50,000-plus a year for a bachelor's degree," he says.

As student-loan default rates climb and college graduates fail to land jobs, an increasing number of students are betting they can get just as far with a degree from a less-expensive school as they can with a diploma from an elite school—without having to take on debt.

More students are choosing lower-cost public colleges or commuting to schools from home to save on housing expenses. Twenty-two percent of students from families with annual household incomes above $100,000 attended public, two-year schools in the 2010-2011 academic year, up from 12% the previous year, according to a report from student-loan company Sallie Mae.