I had a degree but still got stuck in retail management.
Soul destroying place, retail bookmakers. (Gambling shops) - completely hostile work environment that the company in question would do nothing to improve despite several staff surveys revealing a huuuuge disatisfaction rating. 

5 years in that before i finally got out, but still earning less than i was in this new job in network management. 

My degree has probably had a detrimental effect. So i would probably agree with you for the most part but edit the going back to school part with "choose your degree wisely"