Well maybe he needs to think very carefully about what he learned during his degree? If he worked hard at it, he should have learned some skills about self motivation, about being able to learn new skills, about problem solving, independent working, etc. etc. Its all about selling it. Plus, as I said, a degree shouldn't be considered as a one step route to a job. Take graduate jobs for example, they consist of, err, retraining graduates, often from scratch. The point of having a good degree is it shows you are willing to learn, that you are capable of working independently, and that you should theoretically be capable of mastering other areas.
Your friend probably needs to work on his salesmanship skills.
Edited to add, of course, there are jobs that require specific degrees, i.e. medicine, but I was meaning in general!