Degree or Skills. What do I prefer?

I was always curious about this question in my lifetime. Degree or Skill?

Why still today do most companies are preferring degrees as the first hiring criteria over skills? now coming to my point of view.

Most of the students graduating from college are not getting their dream job due to poor marks in academics. And they are forced to find jobs in other fields. They may have skills & creative mindset, but don't meet up minimum cutoff like 60%, 70%, or whatever the company suggests.

Actually companies making filtrations like cutoffs, so that they can make their hiring process easy because lots of resumes are received day by day and it is a difficult task to shortlist. They are trying to find the best employees in all aspects. Actually, companies are missing so many creative minds by doing this.

On the other side, this makes the students lose their self-confidence and they will lose interest in improvising their skills and talents like design, art, programming, or whatever. There are so many students highly talented but may be poor in academics.

So, What I am saying is that there must be a change in the current hiring process. By doing this companies will get more qualified candidates and this helps the creative minds in this society to come out and prove their talents.