The good news is that completing your bachelor's degree still makea you a bit elite in America. This U.S. Census Bureau report, at table 225 shows what percentage of Americans 25 and older have completed at least a bachelor's degree: 29.5% as on 2009. As recently as 1980, it was only 16.2%.
The breakdown by race is quite interesting:29.9% of whites 25 or older have a bachelor's degree; 19.9% of blacks; 52.3% of Asians. Pretty obviously, the white supremacist model of racism and oppression is not terribly effective.