1. Degrees open a lot of doors.

2. You build a network when you are meeting people.

Door-opening and networking are the only two advantages of a college degree that cannot be gained from a different place with a high RoI (in terms of money, effort, and time).

It also affords you 4 years to learn at your own pace.

Proper theory can be learned through books and MIT-OCW. Proper skill can be gained from YouTube tutorials and personal peojects.

Schools like Stanford, UC-Berkeley are another story, though.