Degree are a very big deal and valuable for certain technical degrees such as Medicine, Law (if you want to go into the Magic Circle especially), Engineering, etc. It's also a very big platform and almost essential from top universities for careers in professional service such as investment baking, consultancy, etc. I'm talking from a UK perspective. I realise the US system is very different.
EDIT: too offtopic so I'll stop.
Everything you said applies to the US as well, aside from the Magic Circle. Wizardry is illegal is most states here.