first the obvious: it validates you institutionally
in my own experience it gave my thoughts some structure. throughout the essays, paperworks, exams, researches you gain some cognitive method (academic that is!) in treating informations and how u stick em' up together in order to get an explenation, an answer...
now the academic part may undergo some criticism as in offering an impersonal intellectual mold, but in the end it's all up to you and how you introduce the personal within the impersonal. take for example surrealism, they made you look at reality through a looking glass yet they remained faithful to estheticism.
other than this there are some professors you cannot miss out on.
bottom line you become a solid ground on which u can either edify madness either sanity, whatever that is.