This gets right to the point I have been making for years: A Succinct Look at the ‘Great Degree Scam’.
Listen to Prof. Vedder's interview. I always enjoy Vedder, and he nails it.
A college degree is not an entitlement to a "good job" - whatever that is. People are confused about what college is. Is it a paper credential, job preparation, citizen-building, or simple life-enrichment? Certainly a Liberal Arts degree is the latter.