It's sad to say but a lot of these degrees are worthless. You end up with a lot of student debt and no real career to show for it. So many who get PHD's find the only good job they can get that pays well is teaching at a university. Other than that it's almost a worthless piece of paper for many.
So many college profesors have never been in the real world. They were students till they are 30 and then they taught college. They have a liberal warped view of the world. Yes they make 100K plus teaching but many couuldn't make it in the outside world.
In todays world if you go to college you have to treat it as a trade school. You have to ask yourself, when I get that piece of paper where do I go for my job? If the answer is I don't know, then good luck. Many dream that if they only get that MBA then a buisness will be so impressed that they will give them an office, reserved parking and a secretary. The truth is that the entry job they land they could have gotten with no degree. Now they have 100k of studen loans to pay. They would have made more money opening up a deli or pizza store with that money.
My current MSc, that's the way I look at it, just a ticket to a job but the market in general is such shit outside of maybe Germany or Austria that who knows? No guarantees no matter how smart something is planned.