College is important. I attended an average private university and got a degree in business administration with a 3.0 GPA.
Tried for years to get out of retail but it wasn't until I got my MBA (and started networking more) that companies in other industries began looking at me. Of course, this meant going slow (started taking 1 class a semester) and working (40-60 hours a week at times with 2 jobs) throughout my MBA degree (took 5.5 years but graduated with no school debt).
If considering business: A) Pursue a degree in accounting or finance instead of the ever popular management/marketing. B) Also consider that not all degrees are created the same. A degree from TCU, A&M, or UT wouldn't be considered in the same category as Texas College or Texas Southern University. The level of education and networking from the two school categories would also be different.
If you pursue a college degree keep in mind that companies are looking for something that sets you apart. Potential employers are not just looking at your GPA but a person that will fit into their company culture (Small Business or Corporation). They will also consider experience, interests, causes, and of course work ethic. Having a strong interview and knowing about the company is helpful as well.
In any case that's my 2 cents. Hope this helps.