"If the colleges were better, if they really had it, you would need to get the police at the gates to keep order in the inrushing multitude. See in college how we thwart the natural love of learning by leaving the natural method of teaching what each wishes to learn, and insisting that you shall learn what you have no taste or capacity for. The college, which should be a place of delightful labour, is made odious and unhealthy, and the young men are tempted to frivolous amusements to rally their jaded spirits. I would have the studies elective. Scholarship is to be created not by compulsion, but by awakening a pure interest in knowledge. The wise instructor accomplishes this by opening to his pupils precisely the attractions the study has for himself. The marking is a system for schools, not for the college; for boys, not for men; and it is an ungracious work to put on a professor." -- Ralph Waldo Emerson
Also, bitching about general ed requirements is also a copout. You usually don't have to take psych 101 to fulfill requirements. Any 200+ level class will be much more challenging and interesting. You just have to have the balls to take higher level coursework.
As far as debating whether or not to drop out, I always figured you should have something to drop out for _prior_ to dropping out. Don't just drop out and then look to start something. Drop out because your "something" is taking more time than school.
As for student loans, I had a 16 month internship between 3rd and 4th years of university that paid well, so that allowed me to cover my loans from the first three years, get a ton of experience and save up for 4th year. I graduated without debt and some money in the bank, but the price was, a living very cheaply for a very long time. For example, I am 24 and I still don't own a car - that's more cheaply that many people can tolerate...