As yet another one of the "Don Quixotes" who enlisted to become an officer and then achieved that goal, I agree with pretty much all that has been said. You really don't want to do it unless it is truly the only way.
If you do it because of money (lack thereof), that is one thing. You will eventually achieve your goal, if you are young enough and motivated enough--though you may not be in the military anymore when you actually get picked up for a commission and/or finish your degree. (I think the selection boards like ex-military guys because they are getting someone who knows what he/she is getting into and who also has something of a military track record they can look at it, as compared to the no-experience "Joe College" grad.) But I still think it is far better to stick it out and eat Ramen noodles every day for four years and get a real degree from a real school--if you have a good GPA. I don't mean this negatively, but, unfortunately, too many of the degree options available for active duty enlisted just aren't prestigious/rigorous enough to compete against that college guy graduating from UCLA/Berkely/USC/Ga Tech etc-- and that is who you are competing against for OCS slots. STA-21 is, of course, a lot different.
A degree from Southern Illinois and the like is definitely something to take pride in, but the ugly little truth is that America is becoming a place where it is not only if you have a bachelor's, but where it is from. In our lifetime it will probably be if you have a master's or not. I am convinced that the fact that I had a Mech E. degree from Ga. Tech helped me a lot when I was a STS3(SS) applying for OCS--even though I had a lousy GPA. (It was of the slacker A..F..W..A..F type, not the C..C..C GPA type.)
If, like I did, you enlist because of a bad GPA, that is another thing entirely. Enlisting is then basically a "Hail Mary" play to rescue a mediocre (or worse) college performance/career start. That was, once again my case. What you are trying to show the Navy is that you were "Joe Idiot" back then but are "AJ Squared-Away" now--a person who is a safe bet to excel and successfully complete officer training and warfare qualification. You can best do that by excelling in RTC, A school, initial duties, etc, as well as learning as much as you can about the ENTIRE service you are in.
The earlier comments by the webmaster above apply. (I was once not only late for work-- because of oversleeping--but we had quarters on the pier that morning, and they had an award for me which I of course wasn't there for. Had been on board for only three months and it could have been a disaster. But since I had already cemented a rock-solid reputation as being a great sailor--absolutely nothing was said.) You are trying to show that you are officer material. Make sure you are--which means that you are not going to just have to excel, but really really excel, especially if you want to pick up an officer program within 2-3 years, vice 4-7.
Quals have been mentioned. They are important. You are being paid to do a job. You need to be on the enlisted superstar/waterwalker fast-track. Honestly, that means the college degree needs to take a back seat for the first year at least, if not longer. Another good reason to finish that degree outside the Navy if you can. Starve, become a male gigolo, whatever, but get that diploma in your hands. It may be the quicker route, also, because I'm going to guess the Army/Marine grunts in Iraq/Afghanistan aren't racking too many credits up right now. And PACE notwithstanding, it is still hard to get classes done on sea duty.
I also have a post elsewhere that is applicable. It is also a magnum opus, so I won't repeat it here.
So, in summary--enlisting is a very good option if you are doing it because of a bad GPA--your only other realistic chance is going to grad school and getting a masters (IF you can get in), and letting that GPA trump your bachelors, just as college trumps high school. Assuming, of course, that you can break out of your evil college slacker ways. Otherwise, if you are broke, enlisting is still not a bad option--just realize that even if you don't get picked up while you are in, it may still count in your favor later down the road--IF your record is a good one (not average, but a GOOD one), and you are still young enough. And of course, you will have money then, and can complete your degree, so that even if you never get picked up, you will have served with honor (in wartime) and your life will be off to a good start. While the world does need ditchdiggers, Danny, you won't be one of them.