Doesn't the Army offer flying jobs to non-commissioned officers (warrant officers) without college degrees?
Flying discussion aside, there is little in this world that would ever convince me that quitting college before graduation would be anything but counterproductive. Unless you're working on the next Google or Microsoft or something.
Some guard units will hire you "off the streets" (assuming you have completed college already I guess), but I have no real experience with Guard/Reserve units yet.
I rolled my dice with Air Force ROTC. It may be different now, but in 2002 pilot slots were competitive and not all my friends got them. Besides being physically (visually) qualified you also had to score relatively well on a basic aptitude exam, get good grades in school, and receive a good recommendation from your commander. Having civilian flying hours increased your overall potential as well. I was lucky. I went to a school that worked hard for it's pilot wannabes.
I think graduates of the Air Force Academy who are qualified get priority on the pilot slots, but I can't prove that.
What I am discovering is that being in the Air Force as a pilot isn't necessarily a flying job. If you are interested in 100% flying you would probably do better spending your money and living "frugal" in the real world. Air Force pilots are officers as well and have to jump through a number of officer hoops that have nothing to do with flying. It gets painful at times, and the 10 year commitment I have (from the date of pilot training graduation) means I won't be eligible to get out until 2014. But the Air Force offers a lot of benefits you won't find in the real world, like good health care and pretty good pay. You takes the good with the bad, I guess.
But if a recruiter ever tells you that you can fly in the Air Force as an enlisted man/woman, he/she means you can fly in the back as a loadmaster or boom operator. The only time you'll fly at the controls is in the sim for fun.
Either direction you go, go there with a college degree.