I definitely agree with this.
If you want to study and get educated just in order to get a diploma or a certificate, then you are doing it for the wrong reasons. Education can make you into a proper, smart, mature human being, if you approach it from the right point of view. You shouldn't study just for such materialistic purposes as a diploma, but rather to grow personally and become a better person through it. So, education is definitely not merely a paper chase, although it can be for some people.