Every perspective employer will look at your experience and they will agree that you're valuable and capable of doing good work and profitable work for them but they will also fully expect you to hang around just long enough to get a little bit of experience and then leave.
What this implies is that as soon as someone gains valuable experience, every other employer in the area is willing to offer them more money. Which says very loudly they want to pay below-market rates for labor, and they don't give raises, ever. If I could take a year of experience and make more money anywhere else, nobody at the company is paid for more than a year of experience. Your kid trained for a career with no future.
Like most, I didn't go to college for four years to get a career that didn't pay raises past the first year. I suspect your kid made a bad choice of career field, because apparently - as you describe it - none of the employers in the field want to pay for more than a year of experience. This is precisely the attitude (and employers) graduates are hoping to avoid by getting a degree. Nobody puts in four years of effort with the expectation that they'll be treated like unskilled labor. Yet this is exactly the employer attitude you describe. People have started to realize that the problem all along wasn't a matter of skilled/unskilled labor, but that employers viewed employees as disposable, and rather than train them, made unreasonable demands in the first place.
The problem isn't whether or where you got your degree, but the attitude toward employees imparted by the CEO's alma mater.