Commonly, having a degree is associated with assumptions that someone is smart or they know the field that they have studied well. I don’t believe this is the case and would argue that most people who gain knowledge in a specific subject ‘forget’ if they don’t continuously practice. Anyone can become rusty and forget what they’ve learned and everyone does. Memory fades with time, so a degree doesn’t really show you know anything 20 years down the road if you don’t use that knowledge.
I’m generally focusing on the field of IT where it doesn’t truly matter what piece of paper you hold. People without degrees (me) often feel that we have to prove ourselves because we’re not as good as someone with one. I’m sure everyone has heard their parents or relatives tell them that they need to get a degree otherwise jobs will reject them. In IT this isn’t true and if it is, it shouldn’t be. I’ve seen some pretty bad IT “professionals” that have degrees. You can learn anything on the internet, especially IT. I think companies should hire applicants purely based on skill and willingness to learn! Gone are the days where companies require you to have a 4 year degree in IT (hopefully).