Wages are high when the work is skilled, in demand, rare, or highly valued. Thus, it's not that we should be encouraging students to "go to college" because that will earn higher wages. For, if we had countless, trained doctors and lawyers and accountants and programmers and statisticians and engineers, then the wages would no longer be so high. Simply going to college isn't going to guarantee anyone the higher wages that will lift them out of poverty. It's acquiring skills and knowledge and becoming valuable that will do that.
Years ago, Bill Gates argued that 80% of students should earn a bachelor's degree. And that just seems like an absurd statement for brilliant businessman. Clearly, the economy doesn't have that many high education jobs for that many people, and their knowledge and talents would simply be wasted. Instead, people should be responding to the market. That will prove to be more successful.