This conflates the signaling value of certification and training, or to put it another way, selection effect and treatment effect. A qualification can be valuab

This conflates the signaling value of certification and training, or to put it another way, selection effect and treatment effect. A qualification can be valuable for what it says about those who got in (Harvard, Yale, every other élite institution with low to non-existent drop out/failure rates) or it can be valuable for what it tells you about those who attained the qualification. Getting an A.S. in Computer Science from a California Community College tells you a lot about the recipient but knowing someone was admitted to a CC tells you nothing. Some qualifications are Harvard, some are that you passed a hard exam. One is much cheaper in time and money than the other.