- You come from a family well-off/integrated enough in society to afford putting you through college. Or, you know what it's like to be responsible for paying off a large loan.
- You've been thrown into a melting pot for ~4 years and have managed not to freak out and/or commit a felony.
- You've been able to commit to and meet arbitrary deadlines (i.e. finals week) and goals.
No, having a college degree doesn't guarantee that you're a fine upstanding person...it's just one useful metric for an employer to have when they have little else to go on.