Most certifications require maintenance to remain valid, as indeed they should.
College degrees probably lack this requirement because college is a consumer activity intended to generate profit at the detriment of the student. If the goal was to educate people with useful knowledge for the benefit of society, we'd pay students to go instead of crippling them with obscene amounts of inescapable debt.
A college degree retains its value in the same way a scar retains its value--as a constant reminder of a past injury. One that hopefully carried a lesson, if only to avoid falling victim to the same ploy a second time.