A hundred years ago college (and especially elite colleges) were largely for white upper-class men so I would be very careful throwing around words like "rare breed". Education in general was something reserved for the elite, why would you bother educating someone who would probably be working a factory line?
The general population is far more educated, providing massive well-documented and widely-studied societal benefits. What has changed is we have moved (slightly) away from viewing education as a way of stratifying our society and more towards it as something that should be a baseline for our citizens.