I can tell you that if you're up for an animation job against someone with a degree, the person with the degree is more likely to get the job than you are. Education IS the key to success in your life.
I have a four year degree, and I was hired at a higher pay scale than my equal co-workers with no degree. And when I was in my interview - the hiring manager even said "oh good! You have a degree - you can't believe how many people don't. That definitely gives you an edge!"