I'm glad I went to college but after a while I felt like it had served it's purpose for me, I had already completed the major courses (data structures, software architecture, etc...) and pretty much just had courses like Compiler Construction and OS Design left. So I had an internship at a startup the summer after my 3rd year (summer of 2014) and I was immediately placed as the only developer working on a web application for analyzing our production logs. I did well and near the end of my internship I was offered a job... and I took it. So I dropped out and for a year now I've been working at the same startup and am now the lead (and only) developer on all of our web services. I don't regret not finishing school, though it's been a little bittersweet watching all of my friends graduating in past few months.. My view is that you should get all you can out of college while it's in your best interest, I just didn't feel it was helping me as much as a job in the industry would, and I'm certainly doing well enough. Not to mention the fact that most universities don't even offer a real program for full stack web development. I've even been getting a lot of interest from recruiters (on avg. about 4 positions a month for a year) despite not having a degree.
That being said, something I've heard a lot from the developers I work with is that later on it could be an excuse for employers not to pay me as much. Even with this first gig I'm seeing that I'm getting paid less than new employees with less knowledge & experience than me and for a lesser position, simply because they have a degree. The approach that I'm taking is to ride out this job for a while longer and then getting another job, and if me not having a degree poses a problem in any way I'll just go and finish my degree (which will take about 2.5 more years due to a transfer after my sophomore year). I'm 22 right now so it would certainly be better for me to do it now rather than later but I'm simply not convinced yet that it will be a problem later on. It's also worth noting that I'm taking a lot of courses on Coursera and am going through the web specializations to add the certifications to my resume, which will definitely help to make up for not having a degree and are much more manageable while I'm working full time.
All that being said, I'm highly interested to hear what current employers have to say about someone having ample experience/knowledge but having no degree, especially when it comes to equality of pay vs. coworkers with higher education degrees.