College will give you some amazing exposure. Whether your literature focus is going to be in reading, writing, publishing, etc., you'll get to work with professionals and peers within that channel. You'll get exposed to literary works you would have never come across otherwise, and you'll get some of the technical aspects that many people don't realize comes within any focus they choose.
Additionally, you'll get the added bonus of a college degree to fall back on that will be extremely useful to have with any job opportunities you go after, whether in the literary focus or not!
Graduating from college with a degree or certificate could help you get a job, such as teaching, that would pay your monthly bills. Reading classic books could help you understand how to write from your insight. You could go to the local library or buy current books at Barnes and Noble or Amazon online. Also, you might want to take a look at Twitter and Facebook because of the number of publishers that are listed, and very willing to read your finished books. Really, it's amazing that 42 million books were sold two years ago through Harlequin. Most of them were romances, but quite a few were spy thrillers. Best wishes.