Oh man. Could I rant about this one. But most of it has been said. I know anecdote (and it's plural) aren't data, but they do represent data points.
My wife was told, "go to college, it's the only way to get a job". "Get a four year degree, it's the only way to get a good job". "It doesn't matter what the degree is, just get a degree!"
She did go to college. But at least she did it the smarter way. First, she paid almost everything out of pocket. Second, she spent the first two years at community college, instead of a university. Then, by taking more than a "full load", she finished the last two years at the state university, in a year and a half. All together, she took out just over 10k in student loans. The rest was pay as you go.
However, her degree is in "general studies". Because she believed the lie of "you need a 4 year degree in something, anything to get a good job, and it doesn't matter what the degree is."
I haven't talked it over with her yet, but I think I've just come up with a plan for when it comes time for college for our kid(s). Mostly it's gonna look like what she did, but the caveat being, "we'll help you out with college as best as we can, so long as you're studying something that actually has usefulness towards a job/career."
Whether the classes be at a college/university/vocational school, as long as they're towards a career, and not just "get a degree for the sake of getting a degree".