It depends on the field in the present environment. It is difficult if not impossible to become a physicist or a teacher without a degree, as far as I am aware. Marketing is a field that one could easily break into without a college degree. A lot of tech fields can be self taught as well.

The movement is towards self education. Self educated people, in my experience, tend be much more self-motivated. Though hard to quantify I value self-motivation much higher than a degree any day.