That's not how it works. The universities have a software system [1] that employers can (and do) check to verify the degree. All they have to do is return "Not a Valid Degree-Holder", just like criminal background checks will return nothing for convictions that have since been pardoned.
You get a printed degree and documentation of attending university when you graduate. All you would have to do is present those and you're as good as having a 'valid degree'.
I don't think you understand how easy it would be to bypass this system, since the actual degree isn't the value, its the knowledge and experience that you gain on the campus. This is akin to repossessing the keys to a car instead of the vehicle itself.
