I think that getting a college degree is worth it considering the increasing wage gap between those who get a college degree and those who do not. I think that if somebody wants to get a good job, then they need to consider getting a degree that will make their chances better.
Obtaining a four year degree is still worth it if you study within the few viable areas that are actually hiring massive amounts of employees. Outside of those fields it probably is not. Furthermore, I do not think the wage gap is based on those with and without 4 year degrees. There are plenty of people in the workforce who have degrees who still can't find anything better than low-wage work and many more who can't even find jobs in their area of study. Income inequality in America has little to do with education.
People with large student debts face many consequences, beginning with having to take jobs they may not want just to make payments, but also including having to pay more for an automobile or a mortgage because of higher interest rates due to a lower credit rating. These people end up being able to save less for retirement. This means that in the future, there will be a generation of older people with inadequate retirements because they had to pay off student loans. Given the fact that there are many free college courses that can be taken online, college is not worth the price.
I understand the wage gap between those with and without four-year degrees, but that still may not be enough to make a college degree worth it. College has become so expensive between room and board, tuition and books, that few families can afford it. A person has to decide if a four-year degree is worth $150,000 to them, and if they will be willing to spend many years paying the loans off regardless of their salary.
And I do not have a college degree. Granted there are degrees where they get paid more than I do but averagely I make more than most who have a associates not to mention the sad fact that there are more people who are working at mcdonalds who have college degrees because they cannot find work in the fields they studies for.