I know that you're making a point; to paraphrase: "Having a bachelors degree doesn't guarantee a good life". However, there are many kinds of courses of study, some of which are desirable in the personnel marketplace, and others which are not. A BS in Math, BEE, BSME, BSCE,... are desirable. A BA in Art History (Thanks, Car Guys) is less so. If someone chooses a field of study exclusively because it's easy, or interesting, without understanding whether anyone needs someone in that field, shame on them for being overly lazy or romantic.
Your article did not make the point that to achieve the good life someone or some organization needs what you learned in college. If this isn't true, then a college degree is not worth additional money.

'Have we priced ourselves off the earth?' At the time I wrote that article,
the deficit was millions!' Now it's trillions, owed to foreign countries,
and doesn't seem to bother the politicians! Anyone know what'll happen to
America when interest isn't paid?

That article and this one isn't about Democrats or Republicans it's about
government spending, cutting politician's salaries and retirements to
$12,000.00 yearly! This is only way America will survive!

Textile and furniture manufacturing companies must be brought back to America
creating jobs. No need for "infrastructures" if there's no manufacturing
jobs!

Taxpayers fear the word 'Stimulus'! Will this money, that America doesn't
have, stop workers from losing jobs, "ABSOLUTELY NOT"! It's only putting
America further into debt and destroying the chances of our children
becoming productive citizens.

'Fair Tax', to include property taxes, should be top priority! This would
enable folks to put their children into good Christian Schools to stop the
moral decline! Another top priority would be eliminating social and welfare
programs, bailouts, handouts and government positions!

Taxpayers have yet to see politicians seriously think about America's
Future! What kind of people are behind these 'stimulus' packages, that's
doing more harm than good?

Taxpayers cannot save the world from the fat cats like Freddie, Fannie, AIG,
Big Three, and anyone else that's taking money they're not entitled to, but
Taxpayers, who have jobs at present, will soon have to make a decision,
themselves, whether to pay taxes or put food on their tables! What happens
to your big salaries, bonuses, freebies, and retirements then?

It doesn't take a rocket scientist to know it's now obvious that America can't
survive by borrowing from Peter to pay Paul! While I'm on a roll, Liberal
means "generous, favorable to progress or reform", but not with any
politicians money! WAKE UP AMERICA!

Plain and simple, here's what you need to know. Rachele Percel is lucky to have a desk job! Unfortunately our country has required a college degree. For what reason, I don't know. I am an administrative assistant who is more than qualified for job postings...oh, except one thing. I don't have a degree and many require it to even apply. You say, "a degree from a four-year college is considered first class. A vocational-school degree is not." I don't know who you're talking to. We need people in those professions. If I don't have the skills for those professions, a four-year degree is necessary -- not first class. Give me a break Mr. Stossel!

The problem with colleges and their ivory towers, is that they do not prepare you well for the real world. They exist outside of normal market places. For example, a trade school couldn't survive if its students were unable to find work after graduation. Lenders make decisions to lend money to trade school students knowing whether they will be able to pay back the loan after graduation. This is not the case for colleges.
Colleges are artificially propped up by the federal government and its loan guarantee programs. Banks can lend money to students majoring in "useless" fields (from an economic viewpoint) and know that they will be repaid - student loans survive bankruptcies. So many excess programs are preserved - even though they have dubious economic value. If bankers were allowed to make college loans solely on a student's choice of major *and* knowing there was no guarantee the loan would be repaid after bankruptcy, they'd be more careful in lending. The market would facilitate students getting more useful education, help keep college prices low because they couldn't be sure to get takers for their product, and provide more value to a society that needs better skilled workers in all fields....