A great question.
I was recently hired by a major airline without a degree. Personally, I’m pleased that I spent my money on things like furthering my career, buying a house, and having a little fun, rather than on a degree which I highly doubt would have earned me a higher salary thus far. On the contrary, because of the experience I’ve gained, because I WASNT busy with college, my earnings thus far are probably higher than they would have been, had I attended college. My airline had no issue with me not having a degree.
If you are someone that is not terribly confident with yourself and your abilities, then I would say degree is beneficial. If however, you are sure of yourself and your abilities, a degree is more optional. Someone who is willing to work hard will always make a great living, with or without a degree.