Don't misunderstand me, my wife has a bachelor's in mechanical engineering from MIT and has worked in the aerospace and defense industries for her whole career, and through her alumni club I've been friends with a bunch of other engineers and materials scientists. They have just about all done very well.
On the other hand I know two people with masters' degrees that are basically doing white-collar clerical work. I have no college degree, most of the people on my team don't have degrees, and I'm on the same team and at a roughly comparable role with those that do have college degrees. And I have a technical job too.
My point is that having a degree can be lucrative, but it can also provide nothing of additional value. If it provides nothing of additional value then it's an expense that isn't providing a return, so it's actually a detriment, not an advantage, and the degree of detriment is based on how much it's saddling the individual with debt.