I think it says something about the kinds of employers that look at people who have spent upwards of 100k to obtain a piece of paper that implies some arbitrary level of understanding in a given subject. The same level of understanding that I could get on my own for probably a few hundred bucks.
Don't get me wrong, I'm not against higher education in theory. We've gotten to a point though were it's not about the education anymore, it's about the diploma. We enforce this idea in our high schools that you can't be successful without one and as such send our kids in droves to Colleges. We've artificially made the demand so high that these institutions can charge whatever they want and the kids are still going to attend and put themselves (or their parents) further and further in debt.
Surely I could filter those resumes just like many employers currently do anyway. First of all we'd likely be talking about some type of entry level position as education plays less and less of a role when looking for experienced engineers. So I start with some type of test before I'll even look at your resume. In fact, if I'm an employer as popular as Google, I may have more than one level of tests to get through based on the job before I give any resume's a look. It's not hard to test for knowledge in Computer Science and I'm sure companies like Google already do to some extent anyhow.
Once you've done the initial filtering it's not too terribly hard to spot some potentially good candidates. Especially in the field of software development where it's easier than ever to build products and make them available for others to see and use.
I'm also not saying to ignore the education lines...I'm just suggesting that I don't like it as the main criteria for filtering out candidates.
Don't get me wrong, I'm not against higher education in theory. We've gotten to a point though were it's not about the education anymore, it's about the diploma. We enforce this idea in our high schools that you can't be successful without one and as such send our kids in droves to Colleges. We've artificially made the demand so high that these institutions can charge whatever they want and the kids are still going to attend and put themselves (or their parents) further and further in debt.