I'm a full time foh engineer for touring bands. No degree, yet. When I started there were few and far between degrees available. Even then, what were you really paying for? Terminology courses, and hands on time.
I was able to learn everything by working hands on and being taught in the field (while being paid) by some really great engineers, so I was lucky. I accidentally began picking up the skills when playing full time, working with monitor guys and calling frequencies to eq wedges for singers. I now work for a few local companies when not on the road, and the funny thing is there are lots of young kids coming straight out of full sail and various colleges with degrees who know things technically, but can't mix their way out of a paper bag. I believe it's one of those things just like playing music: you have a natural aptitude, or you don't.
I still think about getting a degree, but one main issue I see is that gear and technology advances so quickly I'd be paying into something that becomes outmoded before the payoff. I'm first call a lot because I'm proficient and fast with digital consoles, and have worked on almost all the pro level ones available on the market. I mention this because I learned hands on in the field, and don't know of any program that has such a wide array of technology readily available for hands on training. It still seems better to get paid to learn than the other way around, although I also realize the extreme luck I've had in landing in my position.