I think there is little to no correlation between a programmer being "employable" and their level of education. I have no (finished) degrees from any universities, however, I've been employed time and time again, and I continue to innovate and have a drive for learning. That being said, some fields simply require a degree. I would feel a little uneasy (scratch that: a lot uneasy) about seeing a doctor or a lawyer who was self-taught.

This is all pointless if you can't afford school in the first place. I know too many people who fork out $40,000-160,000 for a four-year college degree, and for what? Most of them are "unemployable" as soon as they exit with their shiny, expensive piece of paper. This is why I chose to stop going to school and focus on making myself "employable" by learning new languages, new techniques, marketing myself, getting better and better at what I already know how to do, and focusing on gaining experience in the work force.

This sounds like what you need to do.