My old european lit teacher was taught the lesson on college degrees the hard way.
He was born in a strict Korean family, and he was raised to become a doctor. While going to Harvard (or Stanford I don't remember, but he went to both), he told his dad he wanted to become a teacher, not a doctor. Well his dad disowned him and still haven't patched things up. The last day of class he brought in his stanford diploma and ripped it in four pieces (one for each class he taught). He burnt it in front of us.
I realize that he could probably get another one, but he was a great teacher. He still didn't patch things up with his dad.
As for a college degree, I feel that it should be an accomplishment. Most employers see it as a proof of someone completing hard work.
And about the comment your friend made, he probably wants his future wife to be a hard worker.
I'm sure his perspective would change if he met someone that made a ton of money, and didn't have a degree.