You say college has no causal effect, I say college has a causal effect (granting that we aren't talking about credentialing degrees, blah, blah).
The best you have done is destroy my argument in favor of causation; however, this doesn't imply that you are correct for NO causation, just that my argument doesn't work (maybe correct). To prove no causation you would have to evaluate all possible arguments for it, and show them all to be wrong. (good luck)
However, I do have partial evidence for causality based on the association between college and white collar jobs. I am basing this on the "warrant" that P(causation| association) >= P(causation) -- if there is association, the likelihood of causation is higher or the same.
So how about this: neither of us can say for sure whether college helps, but I have a little bit of faulty evidence and you have no evidence whatsoever.
We are in the same situation as most social scientists -- the evidence for anything really sucks, and is nowhere like the evidence for hard science propositions. However, very important policy decisions have to be made based on this faulty evidence. What most people do is pretend be sure and so guarantee they act foolishly.