The answer that Peter Thiel gave last year is ‘hell no’, but the reports on the dropouts he funded with 100000 dollar tell a nuanced story with some greatness, some less, but perhaps it still needs time.

This research that I found through Dylan William sheds some interesting light on the question if a degree is still worth investing in. From the conclusion:

The evidence presented above suggests that there are, in general, significant returns to a  college degree. While these benefits are not constant across all college programs and  occupations, college graduates do enjoy an earnings premium across all major occupation  sectors. The empirical evidence also suggests that those at the margin of attending (whether due to financial constraints or otherwise) benefit at least as much as those from the more general college population. Students with high risk of failing out, however, may be wise to not to attend as the evidence suggests that those who only obtain some college do not realize significantly higher average earnings over workers with only high school. Although the option value of college should be given fair consideration, if an individual expects to be unable to obtain a degree, the investment might not generate enough of a return to justify tuition and other expenses.

Abstract of the research that can be downloaded here:

Recent stories of soaring student debt levels and under-placed college graduates have caused some to question whether a college education is still a sound investment. In this paper, we review the literature on the returns to higher education in an attempt to determine who benefits from college. Despite the tremendous heterogeneity across potential college students, we conclude that the investment appears to payoff for both the average and marginal student. During the past three decades in particular, the earnings premium associated with a college education has risen substantially. Beyond the pecuniary benefits of higher education, we suggest that there also may exist non-pecuniary benefits. Given these findings, it is perhaps surprising that among recent cohorts college completion rates have stagnated.
We discuss potential explanations for this trend and conclude by succinctly interpreting the evidence on how to make the most out of college.