A college education might require a hefty investment of time and money upfront but the payoff is much better over time than if you used your life experiences in order to achieve the same level of education that you can pack into 2, 4, or 5 years of an undergraduate education on the college level.
In other words, over the course of your lifetime you are likely to pay far less for your college education than you would pay (in earning potential) for not having a college education. At the same time, each level of college education you receive increases your overall earning potential.