Most web based freelancing does not require a degree. There is no accredited web development degree at this time, a lot of lower tier schools offer "degrees" in web development or web design but that are not accredited at any significant level. Stuff like SEO, web design and web development are entirely experience based. I have a friend who has worked for a number of major companies (Allstate, BCBS and CTCA to name a few) in web development without any sort of a degree. In the end experience is what they want but a degree can only help.

IT areas that have to do with fixing computers do not require a degree at all. Fields like these include IT helpdesk, network administration and server administration. They are certification based, A+ for instance is a common one for helpdesk stuff and is very easy to get. Your experience will be directly proportional to your pay.

There are some areas that do require degrees. Most government jobs require a degree of some sort, for technical stuff first pick will go to those with a CS or CE degree. A lot of non-web software positions would strongly prefer a degree, most engineering or science fields that use programming require one as well.

To start out in IT can be hard, especially if you have expenses and such. Entry level IT positions are going to pay poorly just like any other entry level positions. The certifications can go a long way in getting your foot in the door.