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Bachelor's degree: Has it lost its edge and its value?

The children of white middle-class, college-educated parents, Hugh Green and Turner Jenkins are just the kind of kids everyone would expect to be stepping out into the world one sunny June day, bachelor's degrees in hand. But they both veered from the traditional American educational route.

One decided that a bachelor's was never going to be enough, while the other concluded it was unnecessary.

Mr. Green enrolled in an accelerated program that will keep him at Emory University in Atlanta for a fifth year and earn him a master's degree. Mr. Jenkins is immersed in a culinary training program in Gaithersburg, Md., that he hopes will launch his career as a chef.