But when I went to college, in the 70's and 80's, people did exactly that. I studies math but lots of folks studied History. You didn't have to be wealthy.
1) Vastly more people enroll in college now, per capita. It used to be a powerful signal, since only the most intelligent and driven people would go. Now it is just the minimum you need.
2) Cost of college has skyrocketed, and public funding for colleges has plummetted.
What changed? Or was that time an aberration?