I'm a college teacher. Good for some, not so much for others. Choosing an appropriate major will definitely help.
Literature, History, etc. probably gonna put you in a soup kitchen unless you are going to be a teacher. Still not necessarily a good thought as there are MANY waiting for jobs. I have worked in IT for 25 years and most of the time was without a degree. After getting a degree, I kept going further in order to get where I wanted... I also leveraged my work places and did not pay a dime for school. It is possible to do, but takes more time. The skill-set I learned most is that of networking - not computers but people. In each instance it was good to be around those that were in the business (who were coming back to school to get degrees for promotions) and eventually led to teaching. If you want to be a teacher, get a Master's in IT and see your doors open up -- hard to find anyone that gets one.
I will also say that in most of the classes, I already knew the material and in many cases was the real-world example for the professor. I didn't go back to school until I had already been working in IT for 16 years. In many cases I had more experience that the professors. I completely agree it's not for everyone. Many times what is being taught is outdated. I highly recommend if you are going to go to school, choose something that will equate into a job. (refer back to lit and history... great if you love it, probably leave you broke) Avoid loans at all costs. Join the military, use the GI Bill, use your employer benefits to help pay for it, use grants, scholarships, etc.