I mostly agree with RobbieJ, as always, a good education is very important - in whatever field you decide to go in. Believe it or not, people judge you solely on how educated you are. EVERYWHERE you go, and in EVERYTHING you do. And, that in the long-run could really have a casting director want to pay attention to you. You could be just as amazingly talented as the next guy - but if that guy has a good school listed on his resume, the casting director would probably be more willing to take a look at him longer than a person who "seems" inexperienced.
As for headshots, I didn't get mine done professionally until about my sophomore year of college, and at that point I wasn't seriously thinking about persuing a full time career in theatre. However, I did get them done during that summer following, and it was the best 300 dollars I could have spent at that time. Sometimes, professional photographers charge about that and more, but I lucked out and only had to pay that. And you know, if you have the money, it can't hurt....you never know what opportunities might come your way, and how that professional headshot will help you. I would say, do it. But if you can't afford that, again, a student photographer would be great, too.
"Someone tell the story...Someone sing the song...."