Whichever route you take, make sure to be building up a stellar portfolio in the meantime! A degree will definitely be a big plus, but without the experience or portfolio it wouldn't matter much. The IT industry, and more specifically Web Design/Development, is funny in that employers really care about a portfolio...more so if you are working for yourself. Of course, with a degree you'll have a higher chance of landing a higher paying managerial position especially with a kickass portfolio.
If you have the time, do a little freelancing on the side. I just started an eLance profile yesterday (have been doing freelance locally) and I have already completed and been paid for a job. You could also start designing your own site. Blog about what you know every once in a while; this will show to your future employer that not only can you build/design a stellar website but you can teach others what you know as well!
Just remember that you won't be the only one who graduates on Graduation Day!