Glenn Reynolds has a column on the possible bust of the higher education bubble.
He describes three ways a college education helps - and the third one caught my eye.
And, third, a college degree -- at least an elite one -- may hook its holder up with a useful social network that can provide jobs and opportunities in the future. (This is more true if it's a degree from Yale than if it's one from Eastern Kentucky, but it's true everywhere to some degree).
A social network - isn't that what Facebook does? Maybe my life would have been different if I'd gone to another school besides Towson.
My wife succeeded in her career despite starting at a local tech college with a one-year degree. When she came to the University of Virginia to study in the mid-90s, her classmates all started at better schools. But they were all in the same program.
Go to a small school and get linked by Instapundit. Now that's the recipe for success.