University can be of great/essential use to someone if they are there for the right reasons. On the flipside, University can also be a waste of time and money for people if they are there for the wrong reasons, i.e. to party/get student loan.
The main key to success in life is spending your time doing something you want to be doing - you can achieve this by going to University, but you can also achieve this by not going to University. You must decide what it is you want to do, how best you can get there, and then don't look back.