Quilting is an art, a craft, a hobby, a vocation, a vacation, a therapy, a creative outlet, a labor of love, a passion, a job (heaven forbid!), whatever YOU want it to be...
All that being said, I personally have seen quilts that I thought "what were they thinking" when they put together the quilt and others that are truly works of art, way beyond "just sewing something together". Perhaps someday something I've done will have that affect on a beholder...or maybe not...but in the meantime, I strive for pleasing combinations of color and fabric pattern to create something I like, whether anyone else does or not.
If an art degree will help you feel more confident in your ability to create art in your quilting - go for it! I know my college classes in design (home ec major with classes in fashion design and interior decorating) were beneficial even though they were many years ago and not specific to quilting. The principles of design, color, proportion are universal to any art form.
And most important - HAVE FUN!