The diploma doesn’t change who you are.  Working toward it does, but you could make some of those same changes without it.  It’s objectively verified that you have a certain level of experience having the degree, which is something employers looks for.  Objectivity can be shown by two paper forms, degree, and portfolio.  It’s also shown in references, scholastic references as well as portfolio and a degree could put you over the top when competing with an equally qualified photographer who doesn’t have the same degree.  That doesn’t mean you’re guaranteed the job, but if the preference of the employer is for employees with degrees and you have one, that could be enough to make the difference. 

A big take-away from the education versus practical experience is that in Photography your education forces you to gain practical experience.  I rarely had traditional tests during any of my degrees when it came to photography coursework.  Conversely, when it came to traditional classes that were required with the degree, or art history coursework, etc., there are plenty of traditional test-based courses.  Perhaps the biggest downside of these test-based coursework (sometimes referred to as knowledge-based learning, but really it’s not knowledge if it’s not applied and doesn’t stay with you) is that it doesn’t require you showing you know what you’re doing.  Even word problems in advanced mathematics don’t equate to being able to precisely predict test work on a new rocket, because there are practical things which simply can’t practically be accounted for in every test.

Photography is different though, either you know it and can do it, or you don’t and can’t.  Developing a concept, creating a storyline, and developing that through a series of images so that a viewer gains something other than a nice image is an equation that can’t simply be memorized.  Either you know how to make the work speak to a specific audience, or you don’t.
            To that end, take for example Richard Avedon, he started by taking photographs in a department store and was discovered a couple years later by Harpers’ Bazaar.  His education in photography, as far as I understand it, is heavily based on experience, and in 1989 he was bestowed an Honorary PHD by the Royal College of Art in London.  Considering the impact that Avedon had in both the fashion industry as well as the market for Fine Art Photography, he’s a prime example that a degree is not required.  That doesn’t mean it’s not helpful, and that it doesn’t improve your baseline of photography, but you should seriously consider where you’re at in your skills and abilities, what the market standards are for the field you’re interested in, and study what the field leaders are doing.  As I see it, when you’re studying/investigating what the current trend setters are doing: You’re not studying what they’re doing to do what they do, you’re studying what they’re doing so you can understand why they’re doing it. 

Understanding the impact that a trend setter is having on the industry can help better shape your impact to that photographic niche.  Gaining an understanding of who the trend setters are doesn’t require a formal education, most coursework will be too outdated to carry immediately current trends.  At the same time, coursework focused on artists within the current years will also focus less curriculum and have a more fluid-concept layout.  A great benefit to a student in this situation is that a teacher who’s teaching this kind of course term after term keeps completely current with what’s going on and who’s doing it.  That knowledge base from the instructor and their exposure to 20-50 students who are also looking, becomes invaluable to most students with most photographic niches. 

When it comes to school vice experience, it’s helpful to understand what a credit hour typically translates to.  In most cases if a student is taking 12 credit hours of classes they can anticipate the instructor expecting homework, study, research, etc., totaling 12 hours a week for that student.  In a Masters’ program that can double, while I was taking 10 credit hours I was told to expect to need to put 20 hours of time out of the classroom into my work.  While working full-time school also becomes a full-time job, it’s difficult to dedicate that much time, especially if you’re married, have children, or want any kind of non-scholastic social life. 

If you can dedicate yourself to working on your artwork for that 12-20 hours a week on top of everything else you’re doing, and have the self-discipline to do so then I have two suggestions.  Consider obtaining a degree from an accredited institution online.  Consider self-educating and immediately working on your professional experience.  If you can, do both at the same time, that’s even better because it’s practical.  If you can’t dedicate that much time and self-sacrifice “fun” for the sake of learning, then I’d highly recommend a traditional learning environment, or trying to work from the ground-up and be discovered.  Both of those situations will provide you the structure needed to help focus, and concentrate on the amount of learning that is required to become professional proficient in the arts. 

Honestly the latter options are less liberating, in many ways they are more constraining because you’re not just meeting deadlines based on a time and day, you’re meeting those deadlines but being told when to study, when to work on the assignment, and are required to be at certain places at certain times.  While there’s a method to the madness that is structured learning, it can be very liberating to self-focus and target your efforts toward a goal where you’re allowed more flexibility such as can be realized through an online education, or self-educating while proactively working in that field of study.  Just don’t be “that guy” or “that gal” who walks up to a couple and says “Hi, I have a camera, I’ll shoot your wedding for you”….unless you really know what you’re getting yourself into and can deliver what the couple wants for their special day.  That day, those moments, are fleeting and happen once.  Don’t be their first regret as newlyweds.