Yes. but with a huge but at the end of that sentence. Do NOT go to college or university aiming to get just any degree. You have to have a concrete path that you want to take in your career path before choosing which department you enter.
I've seen people go to University and get out with Masters degrees in Liberal Arts or English Lit and they might as well have kept the money and spent it on a Mustang. The Mustang would've impressed the interiewer more. With a clearly defined path in mind, by all means, get the degree...work hard, study hard and leave the booze and drugs for after school is over...when it's time to party and you can actually afford it.
When you've got your mind made, go and talk to someone in the field that you want to be in. A Public Relations officer or a HR Manager will be able to tell you what kind of degree/skill-set/experience that their company is looking for and what they might be looking for in a few years. That 'real-world' contact will serve you better than any school counsellor...believe it!
As for being happy...it's tough to be happy while working at McD's and with nothing in your pocket but lint...don't let anyone fool you. Money can and does buy happiness.
Last point...when you choose what you want to do with your career...choose something fun, or rather, something that you would find fun. Nothing sucks more than doing something that you hate day-in day-out. You'll get sick of it and choose another career...unfortunatly one that might not fit your education or degree.
Take it from a guy with a BA in Sociology, who'se a Graphic Designer and a Parish Administrator. $10k in the hole and a piece of framed paper on the wall to show for it...reminds me...I really have to dust it one day, the accumulation is making it tilt to the left.