I don't think so. For example, I am a high school dropout (I have my GED) and I have no degrees whatsoever and I have always found jobs without questions about my education. Keep in mind that I am not career-oriented in the least and I actually like working mundane jobs that have high turnover rates I am not chained to in any way. People talk so much crap about service jobs, but as long as you like what you do it can actually be fun. Like, it really depends on what kind of jobs you want to get though. Personally, I don't think going that deeply into debt is worth it!
They are worth even more nowadays. There are more applicants for every job, than before. You need something to make you stand out from the other applicants. A College degree is the best way to make you stand out.
Education is always worth it. To trot out the old cliche, if you think education's expensive, try ignorance. It might be a bit tough at the moment in the USA to get a job, but elsewhere the future is rosy. In Asia where I live lots of expats get by on having only a thick skin as job qualifications. And, being native English speakers (although often of doubtful competence). If you have that piece of paper your employment is assured. Get educated, graduate, be prepared to travel. You'll find work.
Most companies won't hire unless you have a college degree, the debt you rack up getting a degree sucks!