This is actually my greatest concern about getting this degree.
Most people working at (large) game studios are modders, just saying. You name it, Valve, Infinity Ward, Treyarch etc. People who work their ass off by learning all the software needed to create games, mastering them and creating awesome work that will blow other peoples minds.
I’m not saying game design degrees are useless, they certainly are not. I’m simply saying that you shouldn’t put all your faith in it. A lot of modders have started working with games at a very young age, and their portfolio will totally dominate yours if you’re not going to do what it takes besides following some game design education to learn how to use certain software.
Well, I’d say level design as that is where I really feel concepts and ideas truly come to life. But I’d also really like to know coding as, at least in the community, that seems like the most needed skill, and level design the least. Also, I’d be able to make apps for mobile devices in my free time. Perhaps professionally I could learn level design and then as a hobby learn to code for mobile devices. Or maybe all this is an ungrounded dream and I’ll end up flipping burgers in McDonalds. 
From what I understand a whole lot of the quality mods are made by college students such as rabidmonkey. Also, Valve has a habit of picking up on cool college projects and hiring their creators. That said, I agree with you, to have the best chance, it’d be best to start working on your own as soon as possible and perhaps continue learning at a college.
Just make sure you got a kick ass portfolio.
I think the greatest problem with this is that. While yes learning the software is a must. It’s usually not as clear where to start. I guess I’ve always felt that going to school for this sort of thing not only would show you how to use the programs but what sort of things to look for. Most of what I’m talking about relates to modeling. While the internet may be great for finding tutorials or other things on specific topics. I’ve often found it harder to find more general articles. I’d even go as far to say that the manuals for the software sometimes have this same problem.
You really don’t need an education to learn game related stuff, unless you plan on becoming a programmer then stuff like maths are important.
I learned modeling, unwrapping, texturing, animation, level design and more myself using internet courses and tutorials. Recently I’ve started working with the Source engine and ZBrush (also worked with Call of Duty, CryEngine, UDK, CoH worldbuilder, QED Sudden Strike and more). Thanks to the huge amounts of tutorials for Source it was a piece of cake and I’m already halfway through releasing my first map. Currently I’m 18, working on a commercial project with a friend on a new game engine he built.
What I’m saying here is that education is not a ‘must have’, I can only give you my personal opinion, but I wouldn’t waste the time nor money.
Rabidmonkey suggested you take a different course, I agree with this.
Learning stuff that requires more brains (programming) is also recommended, or at least the basics so you know how a game engine works. While you do that you can learn everything you need for game design and start working on projects whether they’re commercial or not.
edit:
As for problems, you don’t need to refer to a manual. Software such as 3ds Max and Maya are so popular by now there’s always someone who had this problem, or just look up a tutorial.
Ok, so get back to us when you do work in the game industry. You’re not guaranteed a job at all and if you expect that from your education you will be extremely disappointed.
I see a lot of these threads, and my advice is always the same: Put yourself in the position of someone who’s just graduated with the degree you want. Are there jobs around? Do you have a significant advantage over people who have come straight from school? Would you be required to take further education, such as a masters degree? (I’m British, so the name may vary)
Also, have you contacted any companies you would like to work for, asking them what they usually look for in staff, or what’s the best way into the industry? Have you tried to organise work experience or a visit to a potential employer?
There’s a possibility that everyone who’s posted on this thread is wrong (but I’m sure they’re not ). You can take your advice from a message board, or you can take it from the companies that you’re going to be applying to in a few years.
I got in contact with an employee, who is a modeler, awhile back at Rockstar. He gave me some pretty good advice. He said kind of what everyone else has been saying, and gave me a good idea of ways of getting hired. His main points were that, you can be a talented artist just leaving high-school, or you can be a terrible artist with a degree, which one do you think a company would hire? And also the idea of creating a really nice portfolio as everyone else has been saying. Definitely gave me something to think about.
Protip: I know many talented folk whom graduated from those type of schools and landed a good job. It is not just about the school and its degree. You have to work hard to build up the skills needed to get in the industry. Schools alone will not land you a job, but rather help point you in the right direction.
By “point in the right direction” do you mean this in terms of education or rather making connections?
An art degree isn’t limited to (contemporary) art.
I’ve studied arts and general graphic design for well over 12 years. In those 12 years I’ve learned a lot about design and art. I’ve learned a lot about aesthetics and balance. I’ve learned a lot of techniques and style. All of this landed me a degree in arts, but I’m not an “artist”. I work as a digital designer and freelance illustrator/webdesigner and make good money that way.
Bolteh is a pretty cool guy, eh draws things and doesn’t afraid of anything. Nah, your work is pretty damn cool…if somewhat creepy at times. 
As has been said already; nothing bad can come of the extra education, only good. As well as the training in your desired field it will inevitably allow you to make many connections with others either in the industry or at least who have a similar passion to yourself. 
My sig/avatar isn’t my work, though :<
Studied in your free time or studied at school? Also where did you pick up these sort of things? Just through practice or observation?
School.
6 years of Graphical Techniques and Multi-media at high school. 3 years of Digital Design at college and then another 3 years of Arts and Digital Design on a different college.
Ah, that could have something to do with it.