Is a bachelors degree worth more than certifications when searching for a job in the computer industry?

I was talking to someone who runs a vocational college dedicated to computer education. He told me that to be a web developer certifications were way more important and that degrees were not needed. His School doesn’t hand out degrees, just hands on education towards certifications in certain computer fields. Should I spend $20,0000 going through his schools program or should I get a Bachelors in computer science?