According to me, the difference between formal and non-formal education is that formal education is structured to place student in classes of the same age bracket to learn a syllabus. Informal education on the other hand, is free of class structures and learning continues even when learners have not achieved an expected standard level of evaluation.
In my opinion, a formal (school) education will make you a living. a Non-formal (self-taught) education will make you a fortune. As long as you do it for the love and stay commited to give up at nothing.