> They partied too much and studied too little and now they are overqualified and underemployed.
If they studied to little they are hardly overqualified. Someone in the position you describe seems to be at a point where their own perception of their qualification, based on the fact that they did somehow get a degree, is inflated compared to their qualifications as perceived by potential employers.
"Overqualification" is a strange term anyway. It's not that a potential employer wouldn't want someone better than strictly necessary for a job. It seems to have more to do with some people expecting a certain "baseline" of job offers once they have a degree on paper, despite their actual qualification perhaps not warranting this.
If they studied to little they are hardly overqualified. Someone in the position you describe seems to be at a point where their own perception of their qualification, based on the fact that they did somehow get a degree, is inflated compared to their qualifications as perceived by potential employers.
"Overqualification" is a strange term anyway. It's not that a potential employer wouldn't want someone better than strictly necessary for a job. It seems to have more to do with some people expecting a certain "baseline" of job offers once they have a degree on paper, despite their actual qualification perhaps not warranting this.