In terms of music, I don't really think colleges are to blame. Anyone can go online and look up recordings of successful players and then stop at nothing to emulate them. Teachers and classes are of course helpful in this process. You just have to be driven and not let the naysayers that will inevitably surround you get the best of you. Also, consider your options in terms of employment (
http://tubarachel.blogspot.com/2011/08/ ... tions.html) - there's more out there than you think. Don't limit yourself.
My biggest qualm with many (not all!) colleges is that many of them lack in academic standards because they are pressured to have high graduation rates and keep students in college paying tuition. Everybody can get a degree nowadays in virtually any field, and that's why Bachelor degrees are becoming obsolete. We have this "everybody's a winner" idea when really, people that are lazy and/or cheat their way through college do not deserve any kind of academic recognition - but alas, many of those people walk out with a degree because they footed the bill. I did not realize all of this until I was a TA... oh the stories I could tell! All because we were pressured to retain students and keep graduation rates up.
I'm not saying that every school needs to be Harvard. Of course the name of the school on your degree says a lot... I used to think admission standards was the only reason why.
My best friend is dyslexic and had to work so hard to get through college. She had tutors to read with her for every subject, and she had tutors to proofread her papers. She usually submitted a paper 3 times before proofreading before turning it in. She was also very poor, no help from her parents (monetarily or emotionally), and had to work and go to school full time. But now she has a Masters in Special Education. She chose to be excellent, even with lots of odds against her.
As a music student, you can totally get a job even with rubbish grades. But also consider this - you could still technically win a job without a degree in anything! So what's the reason you're going to school then?