Stacey,

I think that any ascendancy created by the folk degree can only be teporary, just like with any degree. It gives a useful leg-up for a few years (3? 4? 5? no more), but thereafter it is what you have done in that time that counts, not your degree any more.

OK, there are some prfessions where a degree will be a sine-qua-non, like medicine. But I have known people enter teaching and even the clergy in later life, based on their own conduct and experience alone. And in my job, I have always placed experience and practical knowledge above degrees when recruiting (I work in IT).

So, it's a leg-up. No more. It can be used well or wasted. It's like winning a talent show - a year on, people will only remember you if you have done something worthwhile since your win.