I think it would be a bad idea to become a full-time consultant immediately
after leaving school.  You'll lack the necessary experience in some
non-technical areas, you'll lack the necessary experience in managing your
own finances, and the combination will show up as a lack of credibility.

Now, projects "on the side" are another matter entirely.  You won't get
paid as much cause you're not dedicating your time there, and you get
to GAIN some of that experience without as much risk to yourself...
Let's see - I had that free obsolete computer in exchange for that
software that I don't think anyone ever used, and that $35/hour on that
obsolete mainframe updating software written in a language I didn't know,
and the whole PC communications thing that left me $900 in the hole for
legal fees, feeling good that none of the lawsuits actually happened.

Besides, consultants don't get stock options (usually), so they never
get REALLY rich. :-)

BillW