What kind of art do you want to do? And do you want to be rich? (If money is an issue, don't go into art, go into geophysics.) Do you want to do advertisement or work for a big newspaper/ magazine? (that's not always true though... i have a friend working for a local paper with no college experience whatsoever.) For those types of jobs, then yeah, a degree would be beneficial. Those aren't freelance artists though, and I think that's more of an issue of how much money you want to make. If you want to be an artist on the side and work a part time job, then this would be a good idea. If this is going to be your only source of income, then no, probably not a good idea.
Not too long ago my fiance was in the same situation you are.
He was in school for art, and although he enjoyed college, he didn't want to stay in it for various reasons. Even though he dropped out, he is by far one of the best artists I know (and I know a ton of them...)
A lot of being a good artist is having good intuition a unique style, and being able to teach yourself. I am entirely self-taught, and draw a decent bit better than most of my art-school friends. I have found that the majority of really talented artists (in my social circle at least) have had little to no professional training. I think it's because they weren't expecting to go to school and magically become an amazing artist. They took the initiative to develop their talent themselves. (I know a lot of people who can't draw, and then go to art school b/c they think it will turn them into Rembrandt or something.)
If money isn't an issue... I know it sounds bad, but if you aren't into school, I wouldn't spend anymore money on it. Especially if you're taking out any student loans... After 3 years of college I have finally come to this conclusion. Do what makes you happy. Life is short. Having a great paying job that you don't like makes for a crappy life.
Just a random tip: Do you have any friends who are in bands? A good way to just get your name out there is by doing album covers. I know it's not glamorous, but you can get a surprising amount of work just by taking that route. Deviantart commissions are also a good idea. (I'm poor, but if I had the money, I'd totally buy some commissions from the really good Deviantart artists! ) Depending on how much experience you have, you might try to participate in an arts festival. The art there goes for a lot. (You have to be really good at traditional media and extremely unique though.) If you're more into stuff like anime, I'd check out the anime-conventions in your area. Or try doujinshi. (Once again, you have to be really good.)
Also, Do you have a copy of Photoshop? They are pretty pricy ($700-$800). If you haven't worked much with it, I would suggest using Photoshop Elements until you get comfortable. (You can get it for free in a software bundle if you buy a Wacom Tablet!) Elements has a lot of the essentials for a beginner. And a Wacom tablet is a must!
I'm rambling, but I hope this helps!