I always thought my trajectory would be to go to my current school, transfer to a better one, get some good internships, and graduate with a CS degree. But my grades aren't where they need to be, so I probably won't be able to transfer to a good school. Honestly I've been concerned whether or not I can afford it anyways. Going for a junior position, or even a paid non-college-affiliated internship, is far more appealing.
I've got a pretty decent GitHub, and I've launched a few apps with another in the works. My major (and it is major) concern is that I don't have a good grasp on CS fundamentals - algorithms, data structures, etc. But it seems easier now than ever to teach yourself this - whether through Coursera, or through reading a variety of sources, and practicing on sites like Project Euler or Interview Street.
Maybe Hugo's experience was different than the average developer drop-out because of his ability to get into App Academy, but I'd like to think anyone who can demonstrate programming knowledge and intelligence has a shot, degree or not.