It seems that most people who undergo higher education do so with the expectation that it will lead to a "higher" job, and that's magical thinking.
Sure, higher education is pretty much a requirement for certain classes of jobs, but it's not the only requirement, and it pales compared to the most important requirement: contacts.
This is a human world we live in, and humans by nature are friendlier to someone they know than to someone they don't know.
I, too, once believed in the entitlement that an education "should" bring, until I looked back at all of the jobs I landed (and the thousands I didn't), and realized that every single job I successfully interviewed for was a direct result of a contact in my network.
This is even more important in times of recession, because you're up against a whole army of faceless job seekers, all flooding potential employers with pieces of paper and lamenting the lack of response.
If an employer can't put a face to your name, you stand as much a chance of getting in as winning the lottery.