Aries2745, 1) one can be a big Talmid Chacham without having a s’micha. Contemporary s’micha in America, at most places that give it, does not mean much. Usually, it means that the student learnt Basar be’Chalav and Ta’aruvos(Mixtures(of non-kosher and kosher)). He does not have to know anything else.
2) Even if the talmid does not retain it, it’s still a big Mitsva to learn. You, however, have the right to say: if I am going to support my son-in-law in kollel, I want someone who is succesful in his learning.