I would change the "go to college/university" thing to "look for a career that isn't photography". A lot of jobs (at least here in the UK) are putting people with experience above those with a relevant degree, so I wouldn't tell you to get a degree if it's not what you'll need for your career choice.

But that's semantics, I think the point is, you can make money out of photography, and it's possible to make a career from it, but it's not a sure fire thing. Get yourself some qualifications which give you lots of options if you don't know what you want to do. I got a specialised degree and then regretted it when I realised there were no jobs in my area. Keep up photography as an outlet. What you learn with your camera in your hands is something additional to what you're learning at uni. You'll have more free time at uni to pursue it, probably less free money for gear, but master what you've got and kill two birds with one stone (degree, and 3 more years of shooting experience).

That's kinda what I'm doing. But I first picked up a camera in anger after uni, so I'm doing it whilst working. Working is paying the bills and saving for a house (like your degree, preparing me for the future), taking photographs is keeping me sane and seeing me improve.