Am I safe to assume you mean around software/web development?
I think it's likely down to personal experience, drive etc but also potentially location, job market, what division you're going into and really what you want to do as a career.
I would probably say formal qualifications are getting less significant as we move forward and a lot of the initial getting your foot in the door is what you can show you can do ( ala: contributions to projects, your own projects, portfolio ) once you get your foot in the door then it's your own determination that'll lead to future promotions.
Personally I hold a business management qualification and a bachelors in computer science, ironically my job (rather than career, but long time job) has nothing to do with either business management or computer science ( workforce deployment and management for a NHS teaching hospital ) so I am probably not the most qualified to answer.
Arguably though the experience you'll gain at college or university ( if its a brick and mortar one ) is probably one you'll enjoy and look back on fondly providing it's something of interest to you and will help you in future employment in some shape or another but it wouldn't be strictly necessary.
I would look at career options what interests you in software production and go from there look at jobs and what they require, look at the requirements of the role - if you can demonstrate you've done what the role requires and are proficient, then formal education would likely take a back seat.
Regardless of what you decide or where you go, I wish you best of luck and hope you manage to settle into something you enjoy!