Yep. IMO that's the way ANY degree is looked at (aside from Medical, Law, etc.. you know the drill).
You want a lower level administrative job? You better have a degree so we know that you're not stupid. Now you get to pay off your loans with 20 bucks an hour.
I worked at a fortune 50 company that hired engineering graduates with masters degrees as contractors to break down cardboard boxes and manage stockrooms.
The degree was just a fancy filter if could read and write. If they worked out, they would be eventually hired direct into less mindless tasks.
You want a lower level administrative job? You better have a degree so we know that you're not stupid. Now you get to pay off your loans with 20 bucks an hour.