How do you view a college diploma?

The original author's paper is linked below.

People should view education as an investment and a tool, i don't see these as either or. The word guarantee and investment do not belong next to each other in general. All investments must be evaluated based on their risk and reward. I'm glad the papers original author also did the calculation of Net Present Value, a more precise and accurate way of evaluating costs and benefits than Internal Rate of Return.

http://www.brookings.edu/research/papers/2011/06/25-education-greenstone-looney

At one point, you could rise to middle management with no degree. Today, it's a new paradigm, the Degree gives you a definite edge. I will add, you can succeed without one, but you will have to prove yourself better than a better educated candidate.

Depends on the diploma. For technical, professional or science degrees, it says you meet the minimum qualifications to practice in that field of study. For liberal arts degrees, it tells me you are educated, but may not have trained any hard skills to offer an organization.