I think that a college education is important but if you can't afford it, you can't afford it. Don't push yourself financially if it's going to make your life miserable for the next 20 years. There are other options you can do to almost replace a college education. You can do it online or go to a school like BCIT (Burlington City Institute of Technology) to get a head start in your field.
There are even ways to minimize the cost. You can take advantage of AP tests, make registering deadlines for SATs, go to a community college, or even join the military to get a few free years of college.
I think the reason why a college education is so important is because there are ways to graduate if you can't afford it. Almost anyone can get it if they truly want it bad enough.
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