More companies dropping college degree requirement for new hires

No diploma? No problem.

More and more companies are scrapping college degree requirements for jobs. They're not saying you shouldn't seek higher education, but not having a degree won't be a barrier for you to work in certain jobs at their companies.

Some of the 15 big companies saying "no bachelor's degree is fine" include Google, Nordstrom, Bank of America, Ernst & Young, IBM and Apple.

The changes are coming as job seekers, as well as high school graduates, consider whether college is worth the skyrocketing cost.

Out-of-state public schools are charging an average of $23,000, and for the private colleges, tuition and fees are above $32,000.

“There are worker shortages in industries all across the economy and companies are saying, well you know, maybe we don't need college graduates for this job or that job," Wall Street Journal Global Economics Editor Jon Hilsenrath said on FOX Business’ “Mornings with Maria.”

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IBM says it's now looking at candidates with experience in non-traditional education, such as coding boot camps or industry-related vocational classes.

Those with a college degree shouldn't be alarmed, though. Ernst & Young says academic qualifications will remain an important consideration when assessing candidates as a whole.

"The research shows unequivocally that people with college degrees fare much better in life," Hilsenrath said.