No. First off, he said 7000 students drop out every SCHOOL day, of which there are an average of 180/year. According to the links provided, approximately 1.3 million students drop out per year, which comes to approximately 7,222 per school day. So he's right so far. So let's go with the 7K figure. 7,000/24=291.67/hour. Divide again by 60 minutes and you have 4.96/minute. Divide by 60 seconds and you get .08 dropouts/second. Multiply that by 26 and you get.. wait for it… 2.08 dropouts per 26 seconds!

But wait! He said 1 dropout per 26 seconds, when it comes to 2 dropouts per 26 seconds? Well the school year may be 180 days, but it may as well be 365 for all it matters. Extend that dropout rate to the full calendar year and you get… wait for it… 1 dropout every 26 seconds.

So basically, assuming the number of dropouts is accurate (and I'm quite certain you are in no position to present more reliable numbers), then the ad was on the money. The breakdown isn't inflated. If anything, they could have been somewhat more consistent by saying "1 student drops out every 5 school-seconds" (assuming 7 school-hours per school-day), but that would make no sense whatsoever. Not to the average person anyway.

Of course I can hear it now… "then they should say 3,500 students drop out per day". If the school year was indeed 365 days/year, then there would be a LOT more dropouts due to burnout. As it is now, you can't exactly drop out on a weekend or on break, so breaking down the numbers by school-year makes more sense, and is a figure people understand. But "school-seconds" isn't a figure that exists.