Ultimately, it's all up to the individual, and there's no need to pay someone for the privilege that is inherently yours (to study).
That's completely fair, and I took classes with plenty of fizzbuzz-failers. I just wanted to represent the pro-college side as well as the pro-independent approach. One thing that college gives you (as a motivated learner anyway) is a large collection of co-learners and instructors who bring different specializations, viewpoints, and insights to a regularly attended, long-term assembly (aka class) with a bit more accountability. You can get something similar in places like this (web forums and chat rooms) but learning from a forum doesn't give you a degree, and--let's be honest--that can make a big difference if you're looking to apply for work afterwards.
If you're just learning to learn, take whatever approach you want. I got my IT certification by spending too much money on coffee at a local bookstore (well, I studied for it that way, Barnes & Noble doesn't give CompTIA tests). People have been wildly successful and dismal failures using both routes. But the degree-holding ones probably made it past more HR screens.
Edit: Good point about the youtube series, I had forgotten about those. For free, it's great material. If given the option, I'd prefer to be sitting in the class though, so I could ask questions that come up.
Edit 2: Just so I don't keep bumping this thread to derail it, I meant "accountability to show up", as in a peer + instructor group you can rely on to be regularly present. And counterpoints are easy to find for both sides, because it's not a black and white issue. My goal was simply to impress that both options are there, and having a degree doesn't *hurt* your chances of getting work. It just opens you up to a superset of the jobs seeking programmers.