They would have been better off getting a loan to buy tools, and learn a blue-collar trade. Machinists, plumbers etc. make some serious bucks.
As for college I'll just add this;
I used to work for a TV station in a major market many years ago. There were appox. 15 engineers in this place making anywhere from $25-$35 1970's dollars depending on seniority, experience, etc.
My recollection is that maybe 5 of them had anything that resembled a traditional 4 year degree (in electronics. One was a music major!). The rest were either military trained, for - Profit educated (ITT, IVY Tech, correspondence schools, etc) or in some cases got their skills from electronics hobbies they had in their teens.
One came in brand new and fresh faced from an ITT program and proceeded to shoot to the top of the pile simply because he had computer training when such people could not be had.
But, then they wouldn't have a fancy diploma to frame and hang on their wall. < /sarc>
No, I agree with you. There are a lot of tradesmen that make a good living and own their own business. We have a neighbor who has his own electrical business, and he has several employees. He is always busy.