is it true you can be successful with diploma (community college)?

[happy :)]

i am currently attending community college for 3 years, i have an option of graduating in 2 years but i am taking a 3 year program. my dad said that if i cant get it into a good university its just better to not get my degree and better off with an advanced diploma because experience is just as good as a degree and if i go to a crappy university it will be waste of money as well.