I could not agree more. I just finished my Masters degree at a great university and I am headed towards my Ph.d. When I complete my journey, I will be so badly in debt that my children and grandchildren will still be paying it off. I have received a fantastic education, but at what cost?
It used to be you got what you paid for, but in this day and age that is not necessarily so anymore. There are colleges out there that charge an arm, a leg, and your first born. When you get your degree, you are no more equipped for the job market than when you started. Then you have the Bill Gates of the world...no college and yet still the worlds richest man. Is college overrated? Is real life a better educator than liberals in their ivory towers? That is the gamble.
Congratulations on your Masters. I think for some careers college is the only option but I also know that for considerably less a person can get certified in a specialized IT technology and be making 6 figures in less than 2 years. I can't imagine the shock (though it shouldn't be) for a liberal arts major when they get out of school and realize they aren't going to be making the big bucks basket weaving.