They matter a whole lot less than they did in my youth. You had to work to earn them. My experience with my own kids is thy high schools Will do almost anything to get that graduation percentage (everything except ensure that the student actually knows the purported material that is) and what I a seeing from colleges and their declining standards is that they have become diploma mills that merely convert hundreds of thousands of little green pieces of paper (with tiny pictures of Presidents) into one large piece of white paper suitable for framing. The fact that the credentialed graduate actually knows less than a sack of rocks (and has a critical thinking ability that is even lower than that) is of no concern as long as the tap of taxpayer funded “loans” keeps gushing (and we prepare to pay those of now in full)