American secondary/high-school education, outside of schools and communities outside the norm, is horribly bad. This is the reason Americans have a reputation for being ignorant. And that they are. I would venture to say that the average European secondary school graduate runs circles around American kids. I do realize I am generalizing to a grotesque degree. However, I have had the experience of hiring and working with a number of first year college students. A few surprise you because they are outside the norm: thoughtful, respectful, inquisitive and reasonably well informed. They generally came from families that valued education and somewhat old-fashioned cultural values. The rest? Well, let's just say they never lasted very long.

College, for some, is a required level of remedial education. Kids are coming out of schools valuing drinking, partying and drugs far more than hard work, dedication, the ability to communicate, think and write.

I have seen horrible examples of non-degreed individuals interacting in the context of a professional business environment.

So, yeah, you get to 30, 40 or 50 years of age and things are very different. The cool coder with the dreadlocks and no degree might still be able to get a job. However, unless you are a superstar or run your own business you will have to go up against others with degrees during your job search. In a lot of cases you will loose, regardless of what your actual capabilities might be.