I wouldn't want to work for a company that would even considering a retro-active review of a person's credentials that were not forged. They are hired, all that matters is performance. I wouldn't care if their degree came from Shithole University, if they performed well then good for them.
I'm with you but the problem is, that in today's world, you aren't expected to take and keep a job for any consequential length of time. In the blink of an eye, all of ITT's graduates will be subject to automated resume parsing and job application scoring. They will immediately fall prey to what the various HR software providers call "knock out" questions. If you haven't heard of these, they're essentially immediate disqualifiers that prevent your resume or application from ever bothering a busy HR admin due to running afoul of some education-tied rule, lack of an experience keyword, etc. I've been involved in a number of demos lately and have been horrified both by the ubiquity of this feature and the vendors' zeal for including them in product demos.