I don't know if it makes someone more educated - depends what the comparison is.
I looked up the definition of education in the Oxford, and one of them was "a development of character or mental powers" I guess that is the school of life.
I personally am working toward a degree, not because I need to be "more" educated or earn more, but because I feel more confident and professional in business by doing so (especially document correspondence). So its more a personal thing rather than a necessity for me.
Although if I change careers I do believe in the back of my mind it will probably go a long way toward finding employment that suits me -not me having to suit it.
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