I bet Ferrari owners earn even more than that compared to people without Ferraris.

I don’t think that means we should tell young people to take out loans to buy a Ferrari because it’s a ticket to easy money.

When the only kids going to college were either rich or highly motivated then having a degree made you stand out and could open doors. When everyone gets a degree it doesn’t make you stand out any more. Instead, not having a degree makes you look bad. (And unlike high school, which anyone can attend for free, most kids in the US need to take on a lot of debt just so the don’t get left behind.)