I actually ended up hiring someone without a graphic design degree. We offered the full salary that would have been given to a college graduate. They had proved through their work examples they were competent and able to handle a full-time commitment. They are a great fit for our company and doing well.no that's not true. they are looking for EXPERIENCED designer for the best bang of their buck. you're NOT gonna find a person like that for cheap price. it's an insult. right now - companies are hiring mostly people with experiences. that's why people fresh out of school are having hard time searching. I had easy time finding a job after college..... and after I got let go. no problem. my secret sauce? my resume was already filled with work experiences. and plus write a good cover letter.
I have mixed feeling about college degrees - I feel they are incorrectly viewed as an entitlement to a good job. Although I know that I have personally benefited from mine it is only part of the equation. You still have to prove yourself beyond that piece of paper.