I'm going to be starting my 6th semester in the fall, and as a College student who is working at the same time in a possible field I could go into after school. You've hit the nail on the head.
Until you have that piece of paper, companies won't even look at you. Be thankful you're getting a somewhat useful degree out of it at least, unlike some business or arts or english degree.
I'm getting a Computer Engineering degree, and I'm working in an IT-like environment, however I'm kinda cheating since I'm working for a local government, they hire people based off of who you know, as opposed to what you know.
Also like you mentioned, I've talked to some senior-level students, and some recent grads, and the major deciding factor when you go to get your first job is your GPA, so do whatever you can to keep that up (or just lie on a job application, they won't care to check it)
I'm not sure about CS jobs, but I know in order to get any serious kind of Engineering job, you need a college level education (whatever that means) and depending on what you do, I think some sort of PE or FE or something, I'll worry more about it when the time comes.
What I've learned so far from my experiences, is that in the real world, all that matters is, 1. You have a piece of paper saying "Yes, I've wasted 16+ years of my life to get this", 2. You need to get to know the company before you even think about applying for a job, an internship or w/e is more valuable than some random coming in and saying "herp derp I have a 3.8 hire me pls", 3. Be grateful you like what you're doing, I have so many bull**** classes WITHIN my major that I'll never touch in the real world (I'm looking at you telecom.....) but I can understand why they're doing it, just to have a well-rounded kind of person who can then go into a serious field and then specialize in something to make the buku $$$.
I might be a bit biased telling you to stay in college because I have scholarships and whatnot paying tuition+fees for me :s
TL;DR : Keep up with college, yes it's a huge waste of time, but It'll be more useful than hurtful in the long run...