There are a few things that must be said.
There is a correlation between education and success. Much of the elevation of generations of immigrants from poor to middle class can be attributed to their emphasis on education for their children. The same goes for working class people born in this country; the kids rise up to a higher "quintile" based on getting a "good" college education.
But as time goes by, the economy is bursting with more and more people who have degrees that are almost worthless as a credential for a good job (career, if you must). Those who stream into our colleges and universities today should be aware of the fact that many degrees are a veritable waste of money. Academic advisors don't seem to be conveying this vital information to their charges.
The best JOBS for non-college grads tend to be in the skilled trades and heavy manufacturing, and there is a huge overlap in earnings between skilled craftsmen and the lower-level college grads. There are lots of electricians, plumbers, welders/pipefitters, carpenters, etc., who have six-figure W-2's every year. It appears to me that union craftsmen are doing a lot better than non-union.
On a related point, Blacks and Hispanics have historically been badly under-represented in the big, powerful unions. Things are improving, but slowly.
The best route to wealth in the U.S. has always been entrepreneurship, and it remains the case. And you don't need a college degree to start a business. I know of several friends and family members who went to college, started normal careers at big banks and such, then after a couple years just said, "Fuck it," and started businesses. Landscaping, pizza shops, painting, roofing, car repair. Their parents were at first horrified, but they are uniformly better off than they would have been as wage slaves.
As for how the states are doing getting people "educated" in colleges and universities...not terribly important.