All of the points that have been made here--with a few exceptions--have been quite good...But again, I wish to add another twist.
As has already been brought up, the state of education in this world--and not just higher education!!!--has fallen into the toilet, literally. There's lots of "knowledge" floating around, but little intelligence, and no wisdom. The tragic thing is that it starts on day one, the minute the school system has your child in their claws. The great majority of parochial schools are scarcely better, if not worse for the errors they spread. There is no need to wait for College or University for the souls in question to be gravely imperiled.
That's why people of morals are leaving these schools in droves and homeschooling their children, and fighting an uphill battle. And while no college degree is remotely necessary to teach children, it can be immensely helpful.
If you want your (male?) children to have a truly good education, how will you do it? Gone are the days of sending your children to the seminary school or the convent school. Gone are the days of learned monks tutoring pupils. Dad may or may not be intellectually and/or morally superior to Mom. (See my post in "How about this issue" on the realities of male and female roles in our world that is saturated with not only feminism but rampant ɧoɱosɛҳųαƖity...) Either way, unless (God forbid!) Mom is the breadwinner, Dad simply hasn't time to be in charge of the children's education. Would you rather have them in the hands of someone who only knows survival-level skills?
There is a great deal to be said for the corrupting influence of college, born both from the hedonism of the student body and the intellectual rot of the professors. After 5 years at a top University, I gained a degree in Classical Architecture with a very informal minor in Italian language and Philosophy. I also was utterly dissolute.
Thankfully, God's immense grace saved me from my errors, but I retain the gift of my education. By His grace, I also learned to put aside my pride and my career for motherhood. But much of what I am today I could not have been, had I not been exposed to many of the things I was exposed to in University. It would take a book to ennumerate the myriad instances of wisdom gained from my years there. I never fell into Atheism, but as we all know, being a NO Catholic can sometimes be not much better. A Philosophy class lit a fire within me that has continued to consume me as I continue to seek God in the many ways He allows us to know Him.
God in his wisdom has granted me many talents--I say this without pride or vanity, but as pure fact--with which He fully expects that I shall glorify Him. I could never do so (without inordinate frustration) had I been denied the opportunity to put them to good use with my education. I understand Gilbertgea's desire to simplify and codify, but God did not create cows to be Man's companion. He saw that the animals were not a good companion for him, so He created woman, from Adam's rib--from the same stuff. He gave us minds, he gave us talents and gifts, so that we could be a truly worthy companion. He did not create us as mindless chattel. And he expects us to put his gifts to good use. Sometimes we can accomplish this without formal education. Sometimes formal education can coalesce those abilities more effectively than any other way.
So again, I'm going to use my favorite word: We must use discernment to discover what is right for each of us, individually. We cannot always run from the world. Sometimes we must engage it in battle. We cannot effectively do that inside our caves. There is much wisdom to be gained--even from learning about evil! We can sit around and wish for a perfect world, or we can teach our children about its pitfalls so that they can more proficiently navigate them.
God Bless,
Lisa