If we consider a college degree an investment in your future you must take into account that all investments have risks and operate in cycles or bubbles like everything else.
In economics, with an overvalued stock or property, when a bubble crashes it is due to the fact that something with limited utility has multiplied in numbers and has flooded the market with a useless commodity or has been manipulated to do so.
So at some point you must consider that perhaps the bubble of formal education has finally burst.
And if in fact the bubble had burst what would it look like?
Well.
There wouldn’t be more unemployment because the people aren’t losing jobs. They’re keeping them. In fact it’s only the new students who would be unable to find jobs with their degrees.
The jobs that were hiring positions that needed degrees would eventually value experience over education.
Actually. There would probably be more opportunities for labor than ever before...only in undesirable fields of work such as general labor and small service businesses.
The economy would be doing well statistically as long as students were still paying back their debt.
Overall. If the education bubble were to burst the only thing you would see is a large group of young, entitled, educated and displaced workers.