US companies increasingly eliminate college degrees as a requirement amid ‘out-of-control’ school costs

American businesses are increasingly eliminating college degrees as part of their requirements for corporate roles, which is part of a wider trend in the U.S. job market that is de-emphasizing the value of a four-year diploma, according to experts.  

American companies like Walmart, IBM, Accenture, Bank of America and Google have announced plans to reduce the number of jobs that require college degrees.

Michael Gibson, venture capitalist and author of the book, Paper Belt on Fire, is a proponent of alternatives to the higher education system in the United States and described the trend as promising, especially given the $1.6 trillion in U.S. student debt. 

"I think that has hobbled the passions and dreams of a lot of people," he said. "I think that's why we see this political struggle to cancel the debt. But, the most aggravating part is that everyone's paying attention to the poor students who are billed, but no one is blaming the universities themselves for teaching worthless things or not providing the sort of career advice that they should." He added, "The more we see people foregoing that system to start a career, the better."