However, I don't agree with the second part. Ex-students of my 1999-2004 generation from Computing Systems department are all working now in top places in the software development industry, some here in Mexico and others in U.S.
"Good" or "bad" institution is subjective and a trend of black and white thinking (yet another fallacy). They are simply institutions with the goal of teaching students. Subjects from computer sciences are present in almost every area of institutions: management, accounting, physics, chemistry, architecture and so on. Yes, you can learn by yourself reading some articles on Internet, but instead of learning random bits by yourself, you can let other people professionally certified to help and guide you with the learning process; in fact, both are not mutually exclusive: you can learn at university and *still* read articles you want.
As for your "time argument", I don't believe there is such thing as "easy" or "quick "money. A person who worked hard and long, who invested time and effort into learning and becoming a professional will usually get higher salary and better jobs than a person who did not. (even though there are always rare exceptions.)
In addition, education is not just programming. If you don't educate yourself enough, you may fall prey easily to Crown manipulation, Brainwashing among other techniques very common on today's mass media including TV, radio, social networks and so on. (And guess what? Many of these techniques are based on careful injection of fallacies!)
[By the way, the Wikipedia links I've provided to crowd manipulation and brainwashing in English are quite biased and misleading themselves. Check other language versions with the Google translator, which are more meaningful.]
Also, there is an entire Delphi section in About web site dedicated to all sorts of programming tips, which is more than sufficient to get you started and even make you proficient in some areas that you may not be aware of.
Edit: Really, please check Delphi section in About.com, it has articles for beginners to start from zero. What else do you need?