Several readers have smart takes on this question:
Marxian Economics provides an interesting view of the “value” of any degree. The profits of a company can be divided into two parts: the amount that’s needed to sustain production, and the surplus. Training employees does not directly result in production for a company, which means it must come from the surplus. But the company has many other things they want to spend the surplus on, so they would prefer if their workers were able to do a job from Day One with no training. That means the bill for education/training falls on the individual or the state—which the company also doesn’t want to pay. That’s a different problem.
The readers before me eloquently argued that universities currently have a monopoly on verification for skills; this is sadly true. Even more distressing is the fact that universities operate as companies themselves. Students must pay more money than the value of the education they receive or the system will crash, which is why—I hazard a guess here—they’re forced to take unrelated classes, instead of being speedily prepared for a career.
Now, I learned the basics of this theory from a university lecture, but I haven’t payed a penny.