I don't have much to add that hasn't already been said, but it basically varies from person to person. College was a great decision for my own career advancement, and I'm looking forward to finishing my Master's degree in the next year or so, though it can be rather expensive if it isn't required for the field you're looking into. I might not have even started my graduate degree if my place of employment wasn't paying for it, since the price of entry doesn't come with any career guarantees...though it's honestly the same for most undergrads as well.

I will say though, that you should really consider your long-term goals before declaring your major. I had a lot of classmates that picked whatever major they felt the most comfortable with, assuming a job would naturally come after, and were in for a very rude awakening after graduating. One of my friends graduated with a political science degree, and after a stint of volunteer roles, found herself working at McDonald's. She finally made the switch to a daycare attendant a year or so ago, and considers it a great achievement...despite, you know...the Political Science degree.

In general, if you know what broad field you would like to get into, but don't have the knowledge base required, college is a great decision. If not, it might be a better idea to attend community college, technical school, or simply get some work experience first.

Yes. Education is important and should be valued. In most cases, it is worth it, but it is always up to the person. My grandfather went to nightschool his entire career despite having a very secure and well paying government job in computer engineering and programming. My grandmother (both maternal) got a full scholarship to Warton, but did not go because her parents were immigrants and thought she should work right away. She regreted it for her entire life. it did not affect her career as she was a secretary at smith-klien for an insurance purcasher. When he retired, she took over his position and was making over $150k in the 80s which was a lot of money for a woman at that time period. But still she was upset that she did not go to college. 

I had a very negative outlook to college a few years back. TBH I was just going through an existential crisis and decided that college didn't matter because I did not want to be part of society. Now I am going back to college at a much older age than other students. It's awkward, but better I go now than not at all.

If you make it through life without college then you are lucky, but in general there are far more problems for people who have not completed college than did complete college.

40K is hardly a huge debt.  Mine was 50K I paid it off in 7 years. Here between 7 to 9% of your wage automatically goes off to paying your debt. 

Surely you can find a better job than Walmart with one of your three degrees?

It was worth it to me. Sure, it isn't necessary to be successful but it got me started in my career and where I met my wife.

Well, the market shifts over time.  Usually it cycles.  You'll have a period where degrees are very desirable and the "old men" are being denied.  Then you will have a period where degrees are meaningful.  This actually ties into a lot of cycles that businesses go through with restructuring plus economic trends.  For example, when companies get bloated, they eventually are compelled to get lean.  And that usually means middle management is going to lose their jobs as they seek to "empower their employees."  When an industry has this happen, they don't want to hire people with middle management type creds cause, they don't want 1) to pay them middle manager money and 2) they are currently reducing, not growing, middle management.  In such a climate, they will indeed want people with degrees, cause they want their general employees to be more capable rather than just mindless drones.  But then eventually, a company may grow and expand and outgrow their stripped down middle management structure and once again need people with a lot of experience.  

And then also playing into this is the fact that whenever degrees become desirable, people rush out to get business degrees in droves, often with no regard whatsoever for whether they got a good business degree from a respected university or colege and without actually putting in the effort to get the best out of their education.  It's the learning that is always valuable, not the piece of paper you get on the stage.  As a result, having a degree becomes less impactful and they become more picky about where you got the degree and want you to prove to them in interviews that you actually did some learning and can show them how your education - not the piece of paper you got on stage - will work for them.

Basically, these things change often.  The learning is where the timeless value is, not the degree itself.  Unless you are going into law, medical, financial, and certain technology fields, where they are required.  

Yes, but the problem is some ppl think it's ok to graduate with a gpa of 2 and zero work experience

Depends. Does your family have connections or are you certain you can be the #1 student in your class of 1000 graduands? If not I wouldn't bother. Just grind your way up from an early age in an entry level office role. Wish someone was this honest with me 8 years ago.

True, I spending my time figuring out how to make extra money for myself. I'm actually about to pull the plug and buy a house and rent it out and keep up with my current job. Hopefully it all works out.

Also, parents need to stop telling their kids if they work hard they will be successful. Not true at all. Only a few can succeed in life I am afraid.

Rather pessimistic view. It's rather subjective too, what is success to one person might not be for the next. Depends on their upbringing and social standing.