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Wow, there is definite truth in that article. Although I'd say the sole reason we allow them to put themselves through the exercise is for the people who can and do make it through.
What is a shame is that with so many people having bachelors degrees, the value of it is so diluted that jobs paying maybe a dollar or two above minimum often require/desire a degree. Ridiculous. So we have a populous who have acquired massive student debt in the hopes of a better paying career that fails to materialize because too many other people have taken the same path.
At least 30 years ago those people with high school diplomas didn't have student loans to pay.
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