Hi!
I'm from the UK so don't know too much about the US university/college system, however, on my various searches for inspiration/motivation I came across:
http://www.rsad.edu/portfolio/ca.php
the portfolio page of the Ringling School of Art & Design (Florida) Animation department and I was very impressed with what I saw.
I agree to a certain extent with what Ivan says about talent counting for more than a degree, however there are a couple things you should also take into consideration.
1 - A degree not only gives you a chance to display your talent, but shows you can produce the goods to a tight deadline (does a company want someone that produces good quality animation in months or someone that produces excellent animation in years?) and also that you can work to a specification rather than just creating what you want (how many people in the industry get to do that after-all?)
2 - If you are seeking work outwith the US, a degree will go a long way to securing success with Visa applications as it proves you have a specialised skill set which others within the host country may not have.
Cheers,