Maybe higher education is not for everyone but I have a hard time relating to people who say that going to college or a university was a waste of time. Going to university and getting an MBA was the best decision I've ever made. I learned interesting stuff that I'm still using today. I launched a company together with a fellow student. I learned programming while doing that. I was referred by another fellow student to a company that resided on campus that contracted me as a programmer and product manager. That company is still one of my biggest clients. Another big client came from yet another recommendation by a fellow student. And apart from that, it really was a fun time.
I certainly don't pretend that no-one should go to college, or that it's a waste of time for everyone, but for many it's nothing more than a financial and time sink. Also, note that I never said it was a waste of time (in fact, re-read the last paragraph where I say exactly the oposite). I do maintain that (for me, and many others) it was a mistake overall.