You can't deny the power of being in the political clique either. I call it the "buddy system". If you don't know somebody, you don't get any of the good jobs in my area. I don't know anybody, so I get the crap work...
Instead of staying there doing the crap work and complaining about it, why not move somewhere else? I suspect your psychological make up won't allow you to do that.
The difference is that "less" educated people do not have to pay back student loan for 20 years or more. (while they work a job as a waiter or other job that they did not need a degree for)....either way I will tell my nephew and niece to get a degree.
You don't need to get huge student loans to go to college. Some alternatives are
1) go to a local college and live at home to reduce costs,
2) go to a cheaper community college for two years then transfer to another college to finish your last two years.
3) work the summers and weekends during school to pay the tuition.
4) go to a public university where the tuition is lower.
I don't think a college education guarantees you anything, but it does show that you were able to commit yourself to a goal and finish it. Also, some majors are more practical than others. i.e. all degrees aren't equal.