It depends on what you are studying and what you hope to achieve.

People who go to a random educational institution and get a degree in "X Studies" (where "X" can be virtually anything) and then expect that they will make more money upon graduating simply by virtue of the fact that they have a degree are deluded. If that person went into significant debt in order to get the "X Studies" degree then it is certainly a bad decision because it (a) wastes time, (b) does not increase income and (c) increases indebtedness.

This is the fundamental problem that I have with the much-touted ideology that "everyone should go to college". That mindset simply leads to a nation deep in debt (or rather, deeper, since we as a nation are in desperate straits).

In some cases, learning a trade will lead people to make more money than going to college. A well-trained plumber, electrician or auto mechanic in the greater NYC area can live well.

I can't say (and in fact, no one else responding who doesn't have more information than you provided can, either) whether or not school is a good choice for you. You need to give us more context. Anyone who has responded otherwise is being naive, unless their point is something trite along the lines of "education is its own reward".