This thread has been interesting and informative...so I'll add my two cents worth and bring the thread train to a screeching halt.
A lot of the worth in any college degree in certain disciplines is regional...the value of a degree in business from the Univ. of Georgia, in terms of networking, contacts, etc. in Atlanta and the Southeast is tremendous, much more so than a degree from, say, Cal.
Change venues and the calculus adjusts.
Besides ROTC, the best value in college is going to a feeder JUCO and getting the 101's and 102's taken care of at minimal expense and then transferring to the Uni of choice.
The best thing that happened in my life was taking a year off between HS and college in search of baseball scholarships. I ended up learning more than I imagined.
FWIW, my Dad went to grad school at MIT...two masters degrees, Nuke and Civ Engineering. He has always said that the value of being there was less the curriculum than the chance to be challenged by his peers.