I think college is worth it, always. The experiences you get in college cannot be gotten anywhere else. I think having a business and making a little money may seem nice, but I think it sounds downright boring compared to 4 years of college (you may not think so, and in that case you shouldn't go to college). Now, you only get out of college what you put into it, so if you're going just for the paper, you'll probably hate it. If you like learning, though, and strive to achieve a certain breadth and depth of learning, it will really pay off.
If you get into the right program, you'll really have some achievements to be proud of by the time you're done, too. For example, I'm in my 3rd year, and I've: designed and simulated an op-amp in HSPICE; designed, laid out (in Cadence), and simulated (in HSPICE) a 16-bit register file with a 5:32 decoder; written an operating system in Java (multithreaded, with priority and lottery schedulers, a network layer, etc.). This semester, I'll be designing and constructing a video conferencing system in Xilinx hardware using Verilog. That's just four the classes I've taken (admittedly those are the ones with bigger projects, but others still have smaller projects that are fun and interesting).
This semester I'm also a GSI (also called a TA by many schools), meaning as a 3rd year student I get to teach discussion and lab sections, write homework assignments, etc. This is stuff that will be gone after college (or grad school if I decide to go), after which I may be working a 9-5 job for the next 30 years (hopefully it'll be an interesting enough job that I won't think about it that way, but there's no guarantee of that, or that it won't take some tries to get the job that isn't like that). You'd be skipping over 4 extremely interesting years of life you may never get to return to.