I disagree. It's also based on the type of degree. A more than decent volume of students are getting degrees in sociology, gender studies, and humanities. There is such a limited number of jobs available from these, and so many people studying.
And I also disagree with you, KickFlow. You seem to be living in a bubble, your perception shaped by one or a few that just got lucky. While this isn't always the case, a great deal of lower class citizens are some of the hardest working in the country who work full time or well over full time just to scrape by. Additionally, with all that time spent, it leaves little or no time for raising a family or school, sometimes removing the possibility altogether. Let's just run a scenario: Supposing you are 18 (if not already), your parents turn you out of the house as they are legally allowed to do so. You have everything you have bought yourself and can carry and any job you may have if your parents were not involved in helping you get it. For the sake of simulating the struggle you glorify, you cannot stay at a friend's house. How do you proceede?