I personally don't think so. I see roughly two categories:
1) Professional type degrees such as health related occupations (medicine, dentists, nurses, etc) and engineering (mechanical, chemical, etc). These are occupations where you more or less need a relevant degree, and the salary has more or less priced in the cost of that degree.
2) Jobs that require a degree as a screening mechanism. These are jobs that do not require highly specialized skills, but pay better than local average/better than minimum wage. There are usually a lot of interest in these jobs. A college degree acts as a filter to reduce the hiring pool to a manageable size. A lot of people in this group see the cost of college as a type of investment (large, upfront investment, long term higher annual salary).
Coding related jobs is somewhat an exception to these groups. While a lot of big companies are more likely to want a degree, there has historically been a lot of opportunity for a self-taught developer to find a job. I think the vast majority of jobs still fall into one of the two buckets, however.
