An Educated Idiot is a person that went to college, but is dumber than a rock. The Educated Idiot feels like he/she is smart, but they screw up everything they get involved in. They have a hard time getting dressed, driving a car, or eating. Only the parents are proud of their Educated Idiot children mainly because they themselvs are also Educated Idiots.
That guy at work has a degree but he's not able to do anything. He must be an educated idiot.