I feel compelled to add to this: degrees are used as a filter for graduate level jobs. I do have a degree, but it's a studio art degree (i.e, painting, drawing, etc). I've had interviews with Google in the past, and like the parent it was just through recruiters getting in touch. At a certain point, your experience matters significantly more than the degree.

I also washed out, but it was pretty enjoyable. I certainly wouldn't describe it as a hazing.