I think also having a degree helps at the interview stage as they ask many questions about your "life experiences" etc etc. I found I used cases from university to answer many of their questions at stage 3 which i could not draw answers from other aspect of my life. Also my degree helped me answer any technical questions that were raised.
However if you dont have a degree it does not mean you have no chance, as you may have other aspects to your life that may answer their questions - e.g. work.
For those going back - dont give up and try your hardest all over again, many people make it through at the second attempt.
Good luck all
Chris