It depends on the job you want.

A high quality school with a high GPA will open many doors for you. If you want a decent corporate job with upward mobility, go to the best school that will accept you. If you can't afford it, fight for every scholarship and grant you can get. While you are in school, take meaningful courses and master them. Don't accept passing grades, keep working and stay focused on getting A's.

Recently I had a meeting with a corporate headhunter. One question that came up was why I didn't complete my MBA at the University of Phoenix. I had two reasons. 1) 9/11 happened which made me a little too busy for school as a military guy. 2) I was disappointed with the quality of the education I was getting there. The recruiter completely agreed and mentioned that despite my 4.0 in the MBA program, he didn't care. UOP and similar programs are fairly worthless to the people hiring for jobs at this level.

The same can be said for things like community college bachelor degrees. It may help you on the application by checking another box, but it will not prepare you or make you a better asset to the company. Too much of our "higher" education has been dumbed down. The decision makers in any quality company's HR department know that fact. You may think that you are ready to rock the world with your bachelor's degree from school X, but the jobs it qualifies you for will require that degree and a urine sample.