http://www.bls.gov/opub/ted/2015/unemployment-rates-by-educa...
Employment situation directly leads to living situations. Unemployed? You're going to be in poverty or homeless.
Its hard enough to get a job today with a bachelors degree. Without one? Much harder, if at all.
Getting a degree is truly a life or death situation. With proper social safety nets, single payer healthcare, and so forth, it would not be. But the way things are today, it is.
But totally unrepresentative, the plural of anecdote, et cetera, of course. I must simply be one of the privileged 95%.
I have a Bachelors Degree. Didn't ace it, but did pretty well. But it's been completely useless for my work & employers didn't care about it - they're more interested in what you can do than in the random letter soup after your name. I've seen 4-year graduates who literally didn't know what an array was.
(The one place where I have found a degree to be useful is in moving overseas, where visa programs prioritize someone with a Bachelors Degree.)