RSRH -“A rav must paskin shailos, and so must understand the economic, psychological, political, and other issues that his congregants are dealing with and which relate to reaching a good psak. A rav must be able to lead his kehilla, not just give a drasha on chumash on shabbos morning and a daf yomi during the week. Practical, real world work requires practical, real-world knowledge, and if you want to do it right, you learn from the experts and get yourself certified to be sure you really understand the things you claim to know.”
All the Rabonim I know or at least most, get whatever they need to Pasken or do other things without going to college. Is college the only place to acquire knowledge? For example -A Rov is asked to intervene with Sholom Bayis. He tries, but is unsuccessful. Most Rabbonim I know, at that point, will refer to professional help -like a marriage counselor with a degree. And a lot of times they are successful, even without referrals! So again, what does a Rabbi need a college degree for??!?!?