Warren Buffett: College is not for everyone

When asked, "Is business school worth it?" Buffett said:

It depends on the person much more than it depends on the school. Some people are going to get a lot out of advanced education, and some people are going to get very little. 
 

I don't even think it's important that every person go to college at all.
 

It's a big commitment, to take the four years involved, the cost involved, maybe the loans involved... depending on what your interests are in life, I don't think (college is) for everybody.

There Ought to Be a Reason You're Going.

College is expensive, costly in time and money including earning power in four years. It can cost about $160.000 for in-state college. For private college, the cost is 3 to 4 times higher. Example, HBS costs about $400.000. 

Comment from Eduway:

However, many sucessful people go to college such as Elon Musk, Jeff Bezo, Stephen A. Schwarzman, Peter Thiel, and Sam Zell.

I think we should go to college to prepare ourselve ready for our journey in life. But if you are ready at the age of 18 or 19, you can start doing what you want in life without a college degree and you must be responsible for the risk goes along with your choice. 

If you want to be a lawyer, doctor, engineer, pharmacist, accountant...for instance, you need formal degree. It means you must go to college or university.

So the question is not whether you should go to college. It is your goals in life and how to achieve the goals that dictate your decision and the role of college degree. If going to college is the optimal way to reach your goal, then you should go to college.

References

inc.com
investopedia.com