Badges, certificates and new methods for translating skills to credits are challenging traditional views of college degrees.
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:: The 4th Era ::
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Impact of the internet age on human culture and K-20 education policy/administration
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Jim Lerman
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"While there is some legitimate criticism of the random application of limited gamification elements in traditional educational settings, perhaps this is one possible exception to that rule. Considering a switch from traditional letter or percentage grades to badges signifying achievement could open up many possibilities for a more fine-grained tracking of student progress, address some of the criticism regarding schools not teaching concrete skills, and motivating students to learn."
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I don't think we are going to see the death of the degree, but credentialing could work for professional bodies looking for alternative routes to membership or recognising continuing professional development.