In some ways yes, and in some ways no. It really depends on how you would define "improvement."
I have a Bachelor's Degree, and this can certainly help me get a job; however, had I not received grants and scholarships, I assume that the debt burden would be so high that it would be counterproductive.
Most of the time, yes. In my case my education was covered by scholarships and grants, so I did not have that much of a burden. Most people that I've encountered have a severe debt burden which defeats the benefits of having a well paying job, assuming they even get one with their degree.