True...depends on your long term goals.  If you wish to be a teacher, then there's no way around not getting a degree.  People need to think about their long term goals to decide
Im with you Vince.  Please don't go spending dads money on a $200k law degree unless you have a clear goal regarding the future.
I had one friend who literally went to college until he was 32.  He has 2 Masters' and a law degree (never took the bar) and works in the public sector doing low-paid studies and such.  I think his loans are approx $1,200 a month!  
That being said, its MUCH easier to get a job in finance, for example, if you attended a top 100 university.  It also helps if you're not retarded but that diploma alone goes a long way.
Hey, i got my real estate license years after my college degree and real estate has made me much more money...40 hr course and a test back in '03