It depends on what you go to college for.
Liberal arts, not so much.
But teaching, medical, Lawyer, pharmacy, doctor, etc. you need to spend the money on a good school and expensive education.
Self employed contractor, the school of hard work and getting to pay for the on the job training (mistakes) works fine.
That's my $.02 worth. I have been self employed for 30 years with a associates degree in wood tech (wood shop at a college level). Never used any of it really. Good mentors, hard work, drive and desire, and a little luck along the way will get were you want to go.
For you guys just starting out, protect your credit, build your FICA score and don't think it all comes quickly, it does not.
Build your reputation, not only in business but personal life also.