US BLS, Census, ad NCES have comprehensive stats, with summaries at Wikipedia,[1] and whilst in overall numbers you're probably correct, there are some counterarguments.
- Through the 1960s and possibly early 1970s, a solidly middle-class lifestyle remained possible without a college education. Apprentice and vocational tracks were abundant and viable.
- US Census data show a Bachellors-level local maximum attainment of about 25% in 1977, not exceeded until the mid-1990s.
- Many (though not all) who wanted a degree could get one. Money certainly wasn't the barrier. Yes, it helped (a lot) to be white and male, but former income and class barriers had fallen. By the 1960s, most undergrad programmes were fully co-ed, by the 1970s, graduate and professional. By the 1980s, both were female-majority in many schools if not outright overall.
- Debt loads on graduation were effectively nil at public schools. It was possible to study, work part-time, and save a little. On graduation, options were far more open for exploration, public service, volunteering ... or hedonism. This was a high point for Peace Corps work.
- Grad school was opening up tremendously.
- Academic positions for those grad students were numerous, in large part due to the rapid campus expansion.
Today's colleges deliver more graduates, both absolutely and as a fraction of population.
But as with automobiles and smartphones, what was once an optional luxury has become a necessity: many basic jobs request (though not all require) a degree. Debt loads are crushing. Secondary education quality is widely perceived as lower, and graduation rates there are effectively unchanged from the 1950s (whites) or early 1970s (all). What variation does exist largely trades graduation rates for aptitude levels.
There have always been some graduates who wind up in jobs that don’t require a college degree. But the share seems to be growing. In 1970, only 1 in 100 taxi drivers and chauffeurs in the U.S. had a college degree, according to an analysis of labor statistics by Ohio University’s Richard Vedder, Christopher Denhart and Jonathan Robe. Today [2013], 15 of 100 do.
http://www.bloomberg.com/news/2013-06-25/why-are-so-many-col...
So ... yeah, today more people get a college degree, because they must, with possibly worse quality, far higher direct cost, and more constrained options.
Is this really progress?
I'd explored dimensions of this topic a few years ago, output here:
https://old.reddit.com/r/dredmorbius/search?q=education&rest...
________________________________
Notes:
1. Try NCES: https://nces.ed.gov
Article:
https://en.wikipedia.org/wiki/Educational_attainment_in_the_...
Plot:
https://en.wikipedia.org/wiki/Educational_attainment_in_the_...