We can glorify degrees as much as we like but the reality of university education has changed profoundly in the past twenty years. More and more people are going to university, pursuing largely meaningless courses with little vocational training. The 'degree market' is saturated with people who were barely qualified to go to university in the first place, and the result is a generation of ostensibly over-qualified people fighting for a scarce number of jobs, the inevitable consequence of which is, first of all, a rise in unemployed graduates and, second, a rise in seemingly over-qualified individuals in jobs that one might deem to be beneath them.
Sending more and more people to university is short-sighted, but successive governments have used university education as a means to flatter the unemployment statistics. And a lot of youngsters are buying into the university dream because no frakker is going to give them a job ... but the same will be true in three years time, probably more so with the way this economy is going. If you ask me, I'll stick to any old job I can get for the time being, where the money is going into my account, rather than playing a dangerous game of russian roulette involving £30k worth of debt, and the faintest glimmer of hope of a job at the end of the frakking rainbow.
Not that you were asking for my opinion.