yes to both questions. i'm already working as a part time web designer and it's great. i often get to work from home... its called "telecommuting". so i just set up netmeetings with my bosses and clients and discuss our projects online. it's quite decent.

As for colleges, I guess it depends on where you live or how far you're willing to travel. I've done a lot of research on schools with majors related to Web Design and Development and it seems that a lot of these schools are concentrated in certain areas including Michigan, Illinois, Florida, Georgia, and California. There is also the Art Institutes which is a large chain of schools with one sure to be in your area.
Check these schools out:
International Academy of Design and Technology
American Intercontinental University
The Art Institutes
Chubb Institute
Baker College
Rochester Institute of Technology
Westwood College
Bellavue University
Florida Metropolitan University
Full Sail
Briarcliffe College
These are schools on or close to the East Coast. I didn't bother writing down schools on the West Coast because I have no intentions on traveling there.
When looking for majors, look for any of the following:
Web Design
Web Development
Multimedia Design
Digital Design
New Media Design
Graphics Design
Information Technology
Good luck!