Social scientists have long emphasized the material benefits of postsecondary degree attainment, even while everyday Americans routinely report moral, expressive, and community-focused motivations for pursuing and earning college credentials. This paper builds theory to explain the plural meaning and political significance of bachelor’s diplomas, specifically, in the contemporary US. Integrating insights from the sociology of culture and political-historical sociology, we argue that attainment of a bachelor’s diploma became a categorical mark of status honor in post-WW II America. Drawing on interviews with 61 US adults making substantial investments in obtaining college degrees in midlife, we show that adults routinely express moral projects alongside economic goals for degree attainment. Recognizing the plural meanings of college degrees helps to explain otherwise puzzling features of educational decision-making; highlights hazards of predatory inclusion for degree-seekers; underscores the deep political salience of educational credentials in contemporary American culture; and calls for a comparative sociology of the meanings of higher education worldwide.