The idea was based on a big lie: that college degree holders make more money. While there is some correlation, there is little evidence of causation. Bigger incomes are more strongly correlated with having a higher IQ, being raised with a strong conservative work ethic, having ambition, staying away from alcohol, drugs, and a big party life. Having religion helps too, the good kind, not the global warming or blowing things up religions.
There is enough evidence out there of before and after. Now that every high schooler that wants a degree has one, how are their incomes? The big lie believers may be shocked to find that not only did incomes adjusted for inflation went down, now people are in major debt to leftist Club Ed resorts. But the 6 years of their prime spent on alcohol, sex, drugs, and parties were epic.
a lot of college graduates view a degree as a panacea to prosperity and a good life. it isn’t. the last time somebody pumped my gas it was a management graduate.