Let me break it down into even simpler terms.
You: "Once you have a degree, no one can take it away!"
Me: "Once you have an incurable disease, no one can take it away!"
Obviously, having an incurable disease is bad. You claim that college is "good" because once you have a degree, no one can take it away. Under that premise, it would be logical to claim that everything that cannot be taken away from you is good. This, obviously, is false based on my counterexample.
Didn't they teach you logic in your beloved college?
-Warik