Flyboybrad.....
I am not convinced that you are being offered impartial (or good) advice.
It is a fact of life that paper qualifications are required (rightly or wrongly) by many employers. They are at least a tangible and measurable way of proving your acedemic abilities.
When you have qualified as a CPL you will be competing against many many other pilots for (probably) few jobs. The employers will as likely use acedemic qualifications as a 'filter'. This will not help you of course.
I have noticed recently that many airlines ask for either 1000 hours multi crew time OR very good GCSE's etc (!!!). Read into this what you will..............but the chances are that you will have neither!
If you go back to college you will improve your chances significantly and I believe that it will look good on your 'CV' (by this I mean you will have demonstrated a serious and mature attitude regarding your future and level of commitment).
Before you get caught up in the drama and run up huge debts on a wing and a prayer, stop and think for a while. Take advantage of your age and situation now while you are young.
Just a thought...................
Good luck
JWF
P.S I too left school with few qualifications ( I am 45 now), it has not stopped me but it HAS hindered my progress. I do REGRET not studying harder while at school).