Rather, it is worth looking at what has happened to earnings by educational attainment over the past eight years. The census has put out data for 2002-2010, and here is what it (Table A-6) shows:
Median earnings for men with a high school degree fell 12.1 percent between 2002-2010; earnings for women with a high school diploma fell 8.5 percent between 2002-2010; for men with college degrees, it was a fall of 8.0 percent; for women with college degrees it was flat. So yes, education is increasing income inequality in that those with college degrees are losing less than those with high school diplomas.
I am the sort of person who would be fine with a GINI of .5 (a number the reflects lots of inequality) if it meant that the people who are materially worst off can live at a decent standard of living. But currently, those who play by the rules (and I mean really play by the rules) are seeing their living standards erode. Homilies about sending more people to college are at the moment pretty much beside the point.