I started to think seriously about going back two years ago, as I observed friends that had graduated in soft subjects moving up in their careers, to the point where they were making hiring decisions. An overheard conversation that really stuck out, was when I heard someone relating their thought process in deciding not to hire a technically capable but degree-less candidate, "How could I hire them? That's a hard technical position. It's impossible to do something like that without college. I had to spend four years learning HRs, and that was really hard. That job is even tougher than HRs." It started to become obvious after a while that people that make hiring decisions in large companies many times are not very intelligent, and it would be basically impossible to get a job many places without a degree. Your resume will get bounced by HR before it ever gets to the technical people that should be doing the interviews. It would be OK if my company succeeded, since I could point at it and say it sold for $X, justifying the decision to drop out. But if it failed, these people would never understand. So I went back as a hedge, part time.
The only difference between the first and second time I went to school, is that the second time I was determined to get straight A's, and graduate as quickly as possible, so I could get into a good post-grad program. I was able to do a little over 30 credits one summer when I maxed out the number of Credit-By-Exam courses I transferred in. I found that if I studied anything that I had a general understanding of for about four hours (like Business Ethics), I could easily pass the exam by a large margin. The actual coursework was mostly very easy. Almost always, it was more a question of doing all the work, and turning it in on time, than anything else. I would take the syllabus, and check off everything that had to be done as I completed it. Getting an A is as easy as doing everything, it doesn't require any real intelligence or understanding. This is really what college is all about.
People hire college graduates because they have demonstrated that they can be given a list of work, and a criteria for how their work will be judged, and complete the work. That's it. From my experience many grads will require a lot of hand holding to actually complete their work the first time, because they don't really know how to do anything, and can't think for themselves. The degree indicates that they are trainable; once they are shown what to do, they can keep checking the boxes for at least 4 years. I wish I didn't have to go back to school, it cost time and money disproportionate to what I got out of it. Having said that, for now, a degree is difficult to avoid without seriously limiting prospects. It is the present reality, and if I could do it over again, I would have tried to go to a top-tier school right out of high school and ground out a BS with honors in 2.5 years.