Some food for thought on college degrees:

Obstacles to employment are a problem. They impede social mobility, disproportionately harm society’s most vulnerable citizens, and hinder the larger economy. That is why efforts to remove such barriers have become a bipartisan cause. It’s why more than two dozen states now ban public employers (and sometimes even private ones) from inquiring about applicants’ criminal history, due to concerns that capable job candidates will be turned away or otherwise deterred. A number of states and locales are going further: New York City, for example, prohibits public employers from asking about applicants’ prior-earnings history; in 2016, Massachusetts became the first state to prohibit the practice for all employers.

Occupational-licensing reform has similarly seen growing, bipartisan support. Reformers on the left and right have surveyed the staggering costs and barriers to entry for quotidian positions such as masseuse, nail technician, exterminator, and florist, and concluded that these need to be reduced or eliminated. In doing so, they are embracing the understanding Milton Friedman propounded most fluently in his 1962 book, Capitalism and Freedom: “The most obvious social cost,” Friedman wrote of occupational registration, certification, and licensure, “is that any one of these measures…almost inevitably becomes a tool in the hands of a special producer group to obtain a monopoly position at the expense of the rest of the public.”

Yet even as reformers have pushed to remove a variety of barriers to employment, the biggest and most significant barrier to employment in American life — the use of the college degree as a default hiring device — has gone blithely unremarked. Indeed, even as reformers target employment obstacles for felons and florists, the pervasive use of college-degree requirements, despite its dubious legality and profound costs, has bizarrely escaped serious consideration.

https://nationalaffairs.com/publications/detail/busting-the-college-industrial-complex

See also https://slatestarcodex.com/2015/06/06/against-tulip-subsidies/