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The NCAA couldn't give less of a shit about the players. They care about the money they bring, and someone is threatening to get into that money so they change the rules. The bachelors degree is a ridiculous requirement. The other 2 requirements are enough. A bachelors degree means absolutely nothing besides that you went to college and passed all your exams. It shows nothing about intentions and how you work. That's why you don't hire someone based only on having a degree. Just my 2 cents though, i was always against the line of thought that having a degree automatically means you're smarter or better at something than someone who doesn't.
Who really thinks that?
I've actually seen that sentiment quite a bit lately in memes on Facebook. Who is pushing what? Anyway, that was a tangent...
But in any event, I think few people, aside form pompous asses, think people with a bachelor is smarter or better than someone who does not have a degree.
On paper anyway, a degree signals to an employer, or whomever, that a person has a baseline proficiency across a set of skills, namely reading comprehension and advanced writing skills; the ability to analyze something and report on it.
That is all it is. Experience is still paramount.