Do degrees guarantee success in life?????

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The million dollar question that I have just scribbled down above relates to this debate that do mere degrees guarantee success in life ar not? One stand is that yes they do because they give a platform to start on...and the knowledge that is required to carry on your work successfully.. The other stand is that they don't guarantee success in life because your personal skills matter and their application matters... Please respond and be as descriptive as possible!