College is indeed becoming overpriced.
If the person is seeking a party experience, it's a bad idea if they don't have rich parents that will support them and pay off loans later on.
If the person is a mature, informed, and energetic business go-getter, and they actually manage to start new ideas while they attend school, and then establish vital bonds with other go-getters they meet, they can potentially gain a lot from a college experience.
Once you join the working world, the diversity of ideas and ability to meet ambitious people regularly wanes a bit. Also as one ages, the energy and enthusiasm for change also decreases to an extent. Carpe Diem.
I also believe though, that some people can and have create(d) amazing and ambitious careers without a college education, or by dropping out early from the process. There are no rules...