I suppose it would have to be more defined in order to really come to an ultimate conclusion on this question. Is a doctor highly educated? Sure. I'll go with that. A psychologist? Now we may be stretching things a bit since the whole world of psychology is really kind of a strange place these days when you start to listen to how these people analyze, or try to analyze human behavior.
At the end of the day what I do think is that a formal education does not usurp the power, nor the benefit that a personal education can provide. If one has the aptitude and the interest to learn something, there are volumes of books and other resources available all around us to get at what it is we want to learn and better understand. Of course, one must also have the power to interpret and sift through the garbage information.
Being successful should require no formal education—with a few exceptions, of course. Here we can cite back to whether or not you want to become a brain surgeon. This is one of the obvious ones. Still, what will make you a great brain surgeon? A fancy medical degree? Or will it be aptitude, interest in the subject matter, a passion for brain surgery, and one of the most important aspects of all. Talent. Anyone can learn where to make the cuts. But someone with extraordinary talent will know how to make the cuts more delicately, and may even go on to develop new technologies in the field.
College degrees do not make people 'educated.' That is only something that one can acheive all on their own. College graduates are what I like to call seekers of credentials and accolades. People who are personally knowledgeable, whether or not they also have a degree are what I like to call seekers of knowledge. These are the educated people. And how they get where they are, and how they have become knowledgeable and personally educated, is acheived in a way no single classroom in a college can ever hope to provide.