From what I have seen a Bachelor's in business is almost as required now a days as a high school diploma to get a foot in the door. But from what I have experienced (and been told by my boss), a MBA isn't worth the paper it's printed on unless its from an Ivy League school (AACSB accreditation doesn't mean anything)
For those in the hard sciences (docs, engineers, etc.) or law, college and beyond is still a good investment. For business types, it's marginal -- you're probably better off just starting your own business (do a search for "Thiel Fellowship" first).
For liberal arts types, college is a complete waste of time and money. You're better off finding a job you can tolerate and using it to finance self-study in whatever area interests you -- then create something and sell it (business and science types can help out here if needed, and since you won't have $100k worth of student loan debt, you'll probably be able to afford it).