Sil, It seems you are getting a few negative responses now..just realize most people don't like "whiners". It seems to me you are getting close to graduation and maybe having alot of jitters about what are you going to do with the rest of your life?
I don't know how old most of your responders are but I'll give you the perspective of someone that is in their 40's and has been working for the same company for over 20 yrs.
I fell into the category of not knowing what I wanted to do with my life when I went to college (actually I did I wanted to move to the florida keys and work for a company called I believe c-quest who at that time was pioneering breeding clown fish for the aquarium industry) however having children and getting married made that impossible and I ended up dropping out with less than a yr to go thinking I would return later. Still hasn't happened.
As I said I have worked for the same company (several changes of ownership) and still don't like my job most days. Needless to say I have worked at every position within the company and now have a partial ownership. If I can offer any advice at all it would be decide what you want to do and enjoy doing and just start and work you r way up the ladder. Looking back you will find life much more fulfilling if you follow this advice.
As far as college degrees go we look at them as the perspective employee has actually stuck with something and finished it making them a better option for hiring as they actually tend to follow-thru and complete a task. This is rather broad and doesnt apply to everyone but for the most part it works.
Also look at where you want to live...I couldnt survive on my salary if I lived in say NYC but here in La I make a decent living, own my house drive new cars, eat out whenever we feel like it and generally have nice things. Its all about cost of living My 2k sq ft house would probably cost twice as much somewhere else if not more, heck in Ca for instance it would probably be closer to 5 times as much.
Just realize yes life isnt always fair, throws lots of curves at you, and generally you get beat up more often than you win, but if you perservere (sp), work hard and go after what you want you will most likely come out ahead in the end