Why should I be paying billions of dollars to study music theories when YouTube gives it away for free?

You can also buy some books.

College is for some things a waste of time.  Also...there is no reason for anyone to hire you without the same education as everyone else

"Billions" seems like a bit of an exaggeration. Do you really know anyone who has spent "billions" on a college degree? Perhaps higher education would help you to communicate more clearly.

I left this alone for days, since trying to argue with an angry and ranting person seldom does any good.  I have multiple undergrad and graduate degrees in Music Theory, and taught it for decades.  Yes, the term "music theory" might mislead some people - a more accurate name might be along the line of "Music Best Practices"  or "Music Architecture".  Like an architect, we do not actually BUILD the finished product, but explore all the possibilities of how previous compositions worked so very well, and how we can explore new directions.  The RANTS against theory study most often come from people who have no serious, professional, accurate instruction in Music Theory - they dabbled, found it beyond their patience to try to understand, and therefore, brushed it aside. Knowing that they needed SOME instruction, they ran to YouTube and other sites, where often, people with limited education themselves, decided that "the blind leading the blind" would be FINE for the Internet.  Those people then blithely told all comers that REAL education was worthless, - but if you followed their path to Oz - it would be easy, you would emerge as a brilliant musician, and you would need NO TIME AT ALL and NO PRACTICE to do so!  "Send $19.95 before midnight tonight!  Guaranteed!  We played ALL OVER, and played WITH THE BEST!!!" No specific , verifiable indication of real education and experience on their part, except for some "playing for beers" gigs, I would surmise.

Like some of the other career professionals here (and many more have left in boredom and disgust) I have made every single dollar in my life in live professional music, music education, studio teaching, and adjudication  I am one of MILLIONS - hardly unique, and not bragging.  I have never worked one day in my life, since 1973, in anything BUT professional music.  There is easily over a quarter of a million dollars worth of music instruments and equipment, reference books, printed music, many thousands of CDs, tapes, vinyl, etc in this house - as others have as well.  NONE OF IT is as valuable as what lives in my HEAD - the benefits of all the excellent education I received, and then amplified with applied experience.

If YOU think that you can become satisfied - renowned - successful - etc. etc. etc. by ONLY scorning thousands of years of accumulated education, and running into the arms of unverifiable online programs - then more power to ya, kid.  Oh - another ANONYMOUS, too . . .  Those few of us who remain here who ARE experts in Music Theory, or our performance instrument, etc.,  or respect musical education, will tell you that you are fooling yourself.  Are there  some sites that ARE valid  and helpful, and run by fine teachers? Yes.  Something tells me that you either have not found them - or took a look, realized that this would take time and work - and you bolted.  Some of us stuck it out - and are glad we did.  Very glad.

You can't claim a masters or bachelors that way.

Music theory is not 'just theories'.  The word 'theory' in this sense doesn't mean 'someone's opinion'.  It means the facts, the structure, that sort of thing.

But to answer your question, some people like to learn online.  Some prefer to attend a college and be able to talk to their tutor.  

Many subjects cannot be taught online.  College/university is vital for many careers.  It's not a case of 'one size fits all'.  People have different needs and preferences.

Credentials. If you don't need them, forget college.

Well I used YouTube to learn everything I know, and I not only tackled Rach 3, I just finished a concert piano tour in Lithuania and am starting the tour in Poland next week. 

then use youtube then

So true........