In my experience albeit limited, I've seen no indication a certification carries more clout in the job market than a 4-year degree. As a recent BSIS graduate and continually networking with others in the industry about "do I spend the money on the 4-year college or MS or Cisco certs" the answer 90% of the time was the 4-year.
I think you are right on with your last sentence about the price increase and what that means to the cost/benefit ratio.