I'm going to put in my own two cents, as I'm going through college now, but first of all I agree with most every statement that's already been said. The cost is already going through the roof, and it's only going to get worse in years to come. Financial aid for those of us in the middle-income families SUCKS right now, and it's dropping steadily (relative to tuition amounts) because the universities around the country are jacking up tuition for no damned reason. They blame the government, I blame greedy Democratic bureaucrats trying to make the president look bad. I'm just lucky to have good enough credit and willling parents to cosign for loans. Moral of the story is to get in and get done quick....okay, don't read into that.
Add onto that the number of jobs going elsewhere, and the only other option being to work for the service industry, a.k.a. Taco Bell, the people with degrees are the only ones that are going to have any real money (of course there are those few exceptions).
I've already earned my associate degree in automotive engineering tech, but with how slow the industry has been, I thought it best to continue my education and get my B.S. in electrical engineering so I can get a job basically anywhere. I've never thought I've taken the wrong path with my decision, either. My friends who just have the automotive degree are still working at the same places they were working at to pay for community college!!! Some say the associate's was a waste of time & money, but I beg to differ; most of the general credits transfer to 4-year schools, and that's a good chunk of change right there I don't have to pay.
I'm confident that I'll graduate with my BSEE and really not have to worry about whether I'll find work or not. There aren't many people these days that can say they could find work so easily, so that in itself is a reward.
Oh yeah, almost forgot the other 'perks' of college (nothing to argue, it's all true):
1. Freshmen girls (magic words: I have alcohol in my room)
2. Greek life
3. Alcohol, in massive amounts, for nearly free
4. Dorm life
5. Parties (goes with Greek life, but there are others)
6. Knowing that everyone else around you is just as broke
7. University food is a great way to lose weight/become bulimic
8. The only place you can walk around drunk and NOT go to jail
9. You finally learn to live on your own
...and yes, it was actually quite liberating for me on that last one. HAD TO get outta the house somehow...
Okay, nothing parents wanted to hear, I'm sure, but it's the best 4 (or more) years of your life, right?