Today, a select number of high-profile business leaders argue that college is not the key to professional prosperity often arguing that "college is not for everyone."

While sky-high college costs make this theory attractive, it's not entirely true. Going to college greatly increases your lifetime earning potential and is one of the biggest predictors of business success — just look at the CEOs of Fortune 500 companies.

Companies run by business executives with undergraduate and graduate degrees dominate Fortune's annual list. Every CEO of one of the top 10 Fortune 500 companies went to college, and seven also earned a graduate degree.

Of course, there are famous examples of successful college dropouts like Mark Zuckerberg and Bill Gates, but these tech titans are the exceptions to the rule — most successful CEOs spend some serious time studying.

Here's where the most powerful industry leaders hit the books and what they studied: