I think you and I are in the same camp. I dropped out after my first year of college in 1994 and started working in the tech bench at a big box retailer. Eventually, I moved through a few different positions, computer operator at a bank, then the data processing center at another company, until I got hired on to do phone support for our data products.
Eventually I moved into tech support, which led to a sysadmin career and then technical training. During that time, I pursued both the MCSE and CCNA certifications. Some of my certs were sponsored by my employer, others were not. After doing sysadmin work for a number of years, I moved into a more soft-skills focused role.
I've been more of a process management / performance management / business intelligence specialist the last couple of years. I just finished the first draft of my second book, and I will probably gross six figures this year. Not bad for an English major who dropped out after Freshman Year.
The bottom line is this. Whether or not you have a degree, expect to start at the bottom, and work your way up. If you advance too soon, you may be in over your head. If your career stagnates, it's because you haven't put enough initiative in moving forward.
Never be afraid of a challenge. My specialty is in Microsoft SysAdmin, but I can configure Cisco routers and switches with the best of them. I've installed a few Linux testbeds, and while it's not my OS of choice, I can manage my way through it.
I will say this; if you're not going to get a degree, at least pursue a basic cert like A+ or Network+ to start.