I have read through this whole thread and there are many good examples here of what the "real world" is like on the 'outside'. I hold a BS in Materials Engineering. My first job was with NEC electronics as a product engineer, failure analysis mostly. Although it sounds neat, my internship was failure analysis of AlliedSignal/Garrett turbochargers was quite boring, actually. One fatigue failure is just about the same as them all. When the tech market bubble popped, I had to fall back on my upbringing and get a job in the construction industry. Although I do believe that my degree helped me with negotiating salary, and to maybe even a greater extent demonstrated that I can jump through hoops and deal with the BS to solve problems, I do not believe I have used anything from my time at college, except for the best friends of my life.
As my favorite engr. prof once said, "don't let your education get in the way of your learning."