Serious Higher Education: Is it worth it?

I want to know how everyone here feels about higher education (college/university). Some may have different viewpoints, and it may be because of the location your in, your history, and experiences.

I myself find it pretty important. I live in America. In my area, if you really want a decent job ($40+) you need an associates or higher. I used to be stubborn after I graduated high school, saying I wouldn't go to school, that I would be a freelance designer or something. But that's not very likely as the competition is extremely high.

Ya see, in most bigbusinesses here, MOST of the time, the management will pick out those with a degree vs. those without one. Even if you have over 1,000 years of experience, they will most likely choose an applicant with a degree. So having that piece of paper saying you did this and that goes a long way here.

I'm studying IT, and plan to graduate with an "associates of applied science" in a year or so.