Colleges sell their brand to students. You pay $60K+ and you get to put their brand on your resume.
Education itself is optional, even if you pay the $60K. My neighbor has a BS in Biology -- I asked him what is the difference between a bacteria and a virus? His answer wasn't even close. What is the difference between a zygote and an embryo? 0 for 2. Michael Vick went to college, Virginia Tech. Did he learn ethics? Did he attend classes at all?
On the other hand, many successful people have become highly educated without paying for a college degree: F Scott Fitzgerald, Walt Disney, Andrew Carnegie, Oprah, Bill Gates, Steve Jobs, Steve Wozniak, Russell Simmons, Ellen DeGeneres, Mark Zuckerberg, John Mackey (Whole Foods), John Lennon, John Mayer, Ralph Lauren, Wolfgang Puck, Tom Hanks, Abraham Lincoln, Barry Diller, Ansel Adams, David Geffen, Debbie (Mrs.) Fields, George Eastman, Henry Ford, Larry Ellison, Michael Dell, and Ray Kroc.
You can lead a horse to water...and all that.