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1.
Someone who attends graduate and professional school for a prolonged period of time and earn multiple degrees (Ph.D. , MD, JD, MBA) without the intention of ever using their degrees. May be used derisively to describe someone who is unclear about their career intentions.
Person 1: Dude, this guy is badass, he has an MD, Ph.D., JD, and MBA degree.

Person 2: Oh yeah? Well has he ever practiced medicine, law, or worked in the business field? He's in his forties and has never worked a real job in his life. He's a degree collector.
by Histrionic June 25, 2010