A 40 year old degree in anything alone isn't good enough to stay employed in any field. Except maybe teaching.
You make it sound like these people haven't been working in the field since they got the degree
I interview 2-3 candidates a week, including many people almost twice my age. While these older engineers have impressive-sounding resumes (IBM, Sun/Oracle) most struggle to code anything more complex than fizzubzz. In my case I make it as easy as possible for the candidates by allowing them to use any IDE they can install on my Macbook and encouraging them to search Google/StackOverflow if they get stuck because I want them to be comfortable and actually complete the task. Majority still end up with trouble implementing a simple JUnit/Selenium automation test for a login page.