I am a NMC graduate and have a bachelor's degree so this statement is only somewhat true - although I completely agree that an associates degree isn't very marketable these days. NMC has an articulation agreement with Davenport University to attain a BBA in the final 2 years of your study (essentially like getting a minor in aviation and major in business during your 4 years). To me this is a much more beneficial and efficient route as you attain your flight ratings in the first 2 years and use your second 2 years to build hours as a flight instructor for the school all while attending night classes to attain your BBA. All said and done, the timing works out that in 4 years you graduate with an Associates in Aviation, Bachelor's in Business, and 1200 flight hours - making you marketable to any entry-level job in Aviation. This also gives you a degree in business that is marketable across many trades and gives you something to fall back on should you have an incident or get burned out on aviation.
Also, NMC is a community college. While this means you end up missing out on some of the "big college experience", the tuition rates are quite a bit lower than a state college (like WMU). Flight fees are pretty standard across the industry so this is where you can save the most $$$. With the way entry level pilots are being compensated in today's economy it's important that you make sure you can minimize your student loan debt to avoid having future payments that can be as big as your paycheck!
I'd be glad to address any questions you have about the program. Feel free to contact me.