Its not about the degree as much as it is an outside judgement of the persons character, commitment, and level of responsibility. You could have done drugs, made babies, and passed by the skin of your teeth... All an employer sees is you are able to comprehend enough to finish school, you are not a quiter, and not enough of a trouble maker to get expelled.
If you look back just exactly how much did you learn in school after you turned 16? I didnt learn anything useful after that point until I went to college... but then again I went to Brookhaven