Yup. And it costs that Ph.D absolutely nothing to make generalizations using data which may be utterly invalid today, post 2006.
I believe the truth is somewhere between four results. Some people will go to college, and become financially successful. Some people today will try to complete their college degrees, in exchange for indentured servitude (to student debt) for most of their working lives. Some people won't go to college, strike it out on their own, and not be financially successful. A few people will skip college, strike it out on their own, and become financially successful. There is no real middle strategy; its just a matter of which choice you will make, and you will have to live with the result. My feeling is that you make the choice that best fits yourself, and have a strategy when it doesn't work out.
The only thing I'm pretty certain about: If you're poor, and can't get a subsidized ride into a very good four year college, you are definitely opting to be a wage slave if you take on a lot of student debt. Very few poor kids are going to take on debt in a profession like doctor or lawyer, and work his way out in his lifetime.