College Grads: Overqualified and Underemployed?

We’ve established that college can cost a lot, and that a recent graduate is generally going to have a fair bit of debt when they head out into the world. We’ve also debunked the wage comparisons often used to sell the idea to prospective students. But the reality is even worse, because to this point we’ve largely granted the premise that a degree will secure the holder with a better job. How often is this actually true?