I think this debate will continue many yrs to come in US. Both sides have their reasons. However, to me, it is still about Cost/Return ratio to determine if it is worth to seek grad degrees.
To our Chinese, we pay for kid's college. So no question, they must go to college to get a B degree. But you have to keep reminding them that their degree might not land them a job. So better start to do things that could land them a decent job when they are in college (even in high school) than just try to get A and make their parents happy.
http://www.zerohedge.com/news/2014-03-27/guest-post-college-waste-time-and-money
http://www.zerohedge.com/news/2014-01-07/too-many-americans-college-today-isnt-worth-it