To add to this article, I've written a lot on this topic and its relation to startups:

* Types of Graduate Degree Programs, http://notonlyluck.com/2013/06/23/types-of-degree-programs/

* When to Drop Out of School?, http://notonlyluck.com/2013/01/31/when-to-drop-out-of-school...

* Lifelong Learning as a Substitute for School, http://notonlyluck.com/2013/02/01/lifelong-learning-as-a-sub...