In the 1940s, the number of people with a college degree was quite low compared to the general population, hence, a college degree was a pretty good step toward a better income. Today, everybody and their brother has a sheet from Point-And-Click University and the economic worth is much lower.
Not really. I am a pharmacist and did not get it by point and click on line. It only took six years of chemistry, math, physics, biology, physiology, and pharmacy courses. I had a prior degree in geology and spent a lot of time at University that I paid for by working in the oilfield. It took another year working with experienced pharmacists for my skills to be truly adequate.
I am paid well and deserve it. Most kids that try it flunk out in the first two years. That is why they pay us well.
I have zero sympathy with those that pursue a job path that is a dead end and then whine about their debt.