Depends. For students who like their subjects and study 'em, it's a good deal. For a lot of students coming out of 13 years of K-12 classrooms, who really could care less about the declination of Latin verbs, Shakespeare's literary devices, or when the battle of whatever was fought, college is another four years of drudgery, punctuated with parties. These students would do better getting a job in the real economy (fast food, construction, truck driving , retail sales) or enlisting in the military. After a year or so of hard work for not much money, they will find their attitude toward academia much improved, leading to much better grades and the learning real life skills.
College is only worth it if you study real subjects. Subjects with a job market other than becoming a college professor. English, history, foreign language, mathematics, chemistry, physics, biology, economics, computer science. Art only pays off for artists. Unless you have some artistic talent, study something else. Same for music. If you don't have any musical talent, don't study music. You gotta have some talent to be an artist or a musician.
Avoid the fake subjects. Black studies, gender studies, these are indoctrination subjects. Sociology, political science, and journalism, the talky talk subjects. Lots of fine ideas, no facts, anyone's opinion is as good as anyone else's. And there is NO job market for these subjects.
If you cannot get interested in real subjects, college won't pay off for you.