At some point, perceptions will change, and kids will stop seeing university as a 'must have', but I suspect that's probably 5 - 10 years away, and around the time where it's the kids of 70s/80s parents making the decisions.
On the personal / parent side, I think a lot depends on the course really. Something like vet at Manchester is certainly worthwhile in the long term (even if it means living at home some of the time to make it affordable in the short term.) I'm completely unconvinced the same is true of a course in management studies at London Met or similar.
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