Only between the student and the university. Towards third parties, a degree is not a proof of work. It's just a certification whose value depends on trust in the certifier. Of course they have the power to revoke it.

There are more legitimate reasons they could do so, like if evidence of plagiarism is found after the degree was granted.

[–] Pyr_Pressure@lemmy.ca 14 points 1 day ago

Honestly I would consider it theft, if I paid tens of thousands of dollars only for it to be revoked later that would be bullshit. Like buying a car with cash and then the dealership repoing it because they don't like your political stance three years later.

Unless there is a clause somewhere in some contract that was signed I would be surprised if that were even legal.