College has its benefits, I don't dispute that. You do learn new skills, get exposed to different viewpoints, and show that you can stick to something to the end.
However, I have always viewed it as a something like a rite of passage. If managers had to go through 4 years of shit then you know damn well they want you to go through 4 years of shit as well.
As for certifications, especially in the IT field, I do not understand why colleges don't except industry standard certifications as subsitutes for courses or credits that can be applied.
I earned an A+, Network+, Security+, I-Net+, MCSA 2000, CCNA, CCDA, CNA, ITIL-F, IPSR, and an NANS without any of them counting for anything when it came to college.
Currently studying for my PMP and the PMP makes a joke of the project management class I took in college.