Is a Master's Degree the New Bachelor's?

I remember when I was in my early teens and my dad was lecturing me about college and how there is no other option for me other then college. He would always tell me how much he would have loved to attend to college, but he was forced to work at the age of 8. He said he even would have been content with just passing high school but that was asking too much since his family struggled financially. He would tell me that people were able to get a decent job with just your high school diploma. Nowadays a high school diploma can barely land you a job at MacDonald's. 

As a graduating senior, I am a little concerned about landing a job when I graduate. We aren’t guaranteed a job after graduation and we have to face that fact. Teachers in high school told us how important it is to get your bachelor's degree, that we wouldn’t get a good paying job without one. As a college student you start to hear that a bachelor's isn’t good enough. Maybe in some job areas a bachelor’s degree is good enough, but in other job areas a bachelors just doesn’t cut it. We need to shoot for a higher education to be able to get that better paying job. 

So, all those hard working and endless hours in the library was all for nothing? Are we just putting ourselves into debt because some students are fortunate to receive financial aid and there are students who have to pull out loans their four or five years in college. To be told that a job isn’t guaranteed is a little worrisome. So we have to start thinking about our master's degree. For some people they were already shooting for that or even beyond that like their doctorate, but some people just can’t afford it so they just settle with their bachelor's. Next thing you know, our master's won’t even cut it and a will be considered the new bachelor's. At the end of the day, we should all strive to better ourselves. Not just as a student but a person in general.