My vote for applied.
You just gotta go online and start doing. I think the basic studies you really need is English so that you can communicate with your customers professionally. People still judge you by how you write.
I have known a lot of people personally who have no studies or college degrees who are making a full time living off the net, including teenagers who are making more than their parents combined.
They are selling online thru ebay, or joining affiliate programs on networks such as affiliatebot, and start to learn how to promote other people's products to make good commissions.
There are teenagers who are making more pocket money than (I bet) their parents give them on the AsiaJam.com program, by promoting it on their favorite forums, blogs and event heir livejournal and myspaces...
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