[ctdonath]

The degree is just proof that you have the education. Revoking the degree does not revoke the education which is, short of extenuating circumstances, deserving of certification. When you're hired, you're hired for the education; the degree is just convenient standardized proof you have it.

[BrandonMarc]

True, but claiming an education != having proof of it. Sure you're employable, but it's more difficult.

Plus, if the potential employer checks your credit history and sees you defaulted on your student loan, they may make assumptions about your behavior or character, having a definite impact on their hiring decision.