I really liked patio11's response to a similar such Ask HN: http://news.ycombinator.com/item?id=1182552

Even if you think university will teach you absolutely nothing, you've got a one-time offer from society that we're going to subsidize anything you do for the next four years and not have any expectation that you'll work for a living during that time. This offer is essentially only good once. Take it.