Everyone doesn't have a bachelor's degree. About 1/3 of 25-29 year olds have one. It is true that the advice you cite couldn't apply to all conceivable scenario

Everyone doesn't have a bachelor's degree. About 1/3 of 25-29 year olds have one. It is true that the advice you cite couldn't apply to all conceivable scenarios, but if given in a specific time and place it could very well be correct. As I see it the problem is that it is actually correct at the present time. And despite the vast bulk of private schools claiming to be charitable organizations they act like rapacious capitalists. That being the case we can look at the equilibrium for firms in their positions, which is to capture virtually all of the surplus. That is exactly what they are in the process of doing. There's probably several different governmental solutions possible, and by all means if you are interested in this issue you should pursue them. But if you want to do something on a personal level, consider forgoing the use of a degree as a proxy in hiring. Just look for whatever ultimate skills and attributes you are interested in directly. This will have a cost to you, the signal is not totally empty, but if adopted on a widespread basis it will have the salutary effect of making colleges live and die on their direct contribution rather than resting on their credentialist laurels.