> What you do, however, is remove the reason job seekers go to college in the first place. There are not that many jobs that actually require a degree, other than as a superficial filtering mechanism, so you can take them out of that system.

This is a second order effect which I am not so sure which actually happen reality. I posit that it is also likely that people move the requirements to an internal portal, everyone gets wind of such a thing, mainly when HR reps start writing that "breakthrough book" about secrets of getting your first job and everyone still keeps going to college.