Does a college degree from the metro DC help

Especially in a recession like this? We were walking by GW today and wondered if the graduates are having a tough time finding a job. With the networking possibilities that the metro area affords it seemed natural to think that the graduates should be having an easier time than the average graduate, but no. Lest anyone has doubts, investment in a college education is risky.

From WaPo:

She graduated magna cum laude from the GW Business School in May, applied for 30 jobs at some of the nation's best-known companies, and it went nowhere. After visiting the campus career center and redesigning her résumé, she applied for 10 more. Still nothing. ... There was no place to go but home, with a collection of rejection letters and a haunting sense of betrayal. For 23 years, she had advanced down America's path to success -- perfect grades, a $200,000 college degree, a folder overstuffed with business cards -- only to have it dead-end back where she started. ...

As graduation neared, Melissa spent her culminating business class comparing rejection e-mails with classmates. Forty students were in the room. Three had jobs.