Currently, the degree is the only meaningful “unit” of education to which employers give any credence. Of this dependency, TIME magazine writes, “The tight connection between college degrees and economic success may be a nearly unquestioned part of our social order. Future generations may look back and shudder at the cruelty of it… It is inefficient, both because it wastes a lot of money and because it locks people who would have done good work out of some jobs.”
The traditional degree, with its four-year time commitment and steep price tag, made sense when the university centrally aggregated top academic minds with residency-based students. Education required extensive logistics, demanding deep commitment from students worthy of being rewarded with the all-or-nothing degree."