Should the United States look at overhauling the education system?

No. The United States should get the hell out of education. Close the US Dept of Education forthwith. Where in the Constitution is there any mandate for the federal government to be involved? Indeed, the quality of education has been in steady decline in the US ever since its inception...

I saw the same thing when I went to school back in 2000. I had been an enlisted Marine for 5 years and that made the difference. I went to class. I didn't care about parties and beer. I did the assignments. I put forth effort. Oh, and thanks to the GI Bill I was paying for it. Now I don't fault the 18 year olds too much. When I was an 18yo private I partied and drank beer and didn't put effort where I should have.
However, since your question was about the education system, I think college has become a given and thus it isn't important to kids anymore. It used to be a big deal to attend college. It was challenging and people recognized the value in it. These days, a degree isn't worth as much. Is it important? Yes. But it no longer sets you apart, it just brings you back up to level. And why is that? Colleges get money when people attend so the more people they enroll, the more money they make. And you can't fail everyone or people will stop enrolling so the standards drop. This is just my opinion but if you make degrees harder to get by increasing the standards, fewer people will get them, thus making them worth more. But the schools would have to settle for less money and they'll never willingly do that.

I think that the education system in America, for the most part, has become degraded, dumbed down, so to speak. I hear kids today that don't really know a lot, don't really understand the importance of education and, moreover, don't care. Discipline needs to be returned to the classroom. We need more motivate teachers, allowing for reduced class size. Correction must be implemented at the lower grades initially, K thru 6. Once this level of schooling is returned to a high quality educational experience, then move on to the grades of 7-9, moving along with the kids that are now leaving the elementary school campus transitioning onto the jr. hi level. Same for moving to the 10-12 grades. Institutions of Higher Education will take over at that point where competition will demand the best. So, it must start at the very bottom and grow from there. This will be a long term proposition but well worth it in the end. Return the Flag, the Pledge and perhaps prayer (at least voluntary.) We have let our kids down in this country. I am nearly 70 years old and schools today don't hold a candle to the schools of the 50's and 60's.