As an IT hiring Mgr for 25+ years, I started steering clear of College Grads about 10-15 years ago. First they thought they were worth more than I was willing to pay, but they did not have the skills (Microsoft, Unix, Oracle, SAP, etc) that I needed to hit the ground running. The 2 year Tech schools did a much better job at that (especially in Microsoft area) then add 2-3 years of experience and they provided a lot of value.
I do not think a college degree is worth it anymore from a cost benefit perspective. Accounting, Finance, Engineering, Medical/Nursing, and software development are they only areas that I would say maybe worth it.
I taught myself more IT than most Computer Science majors receive after 4 years of college. When I lost my job as a college administrator in 2008 I applied for more than 600 jobs, most IT related and no one showed any interest until one was looking for someone who could teach computer skills (at the college I worked for I offered free computer classes as a marketing gimmick and trained over 5,000 people in Microsoft Office apps). I’ve been here 9.25 years now and the IT guys are pretty knowledgeable, they couldn’t learn to do what I know how to do very quickly. But I could learn what they know how to do very quickly.