There is little doubt that in the 21st century we are becoming more of a ‘knowledge-based economy’. Machines continue to replace the manual worker and it has never been more lucrative nor more necessary to make use of ones brain. 
You obviously need a degree more than ever then? Don’t you? 
There are some professions where you really do need the structured training of a university degree, such as Law or Medicine. But others are perfectly achievable with on-the-job training such as through an apprenticeship or internship. And with the jobs market looking sluggish in the medium-term, high-calibre people may be advised to steal a march by entering the jobs market now, and accumulating money and contacts, before perhaps returning to college when they have found a course that will genuinely help their career. 
The one element often cited by universities to encourage young people into their institutions instead of the workplace is that the ability to gain a degree is in itself seen as a sign of intelligence. This however ought to be highly arguable at the current time, when the acquisition of this frequently useless bauble comes with a huge and worrisome debt attached. 
In any case the modern worker has multiple avenues through which he or she can achieve: 
• if you have a strong inclination toward one particular area of work, then apply for an apprenticeship upon leaving school; 
• or you can join the workforce and study alongside, perhaps an online business course such as an HND; 
• or you can hang around at University for 3 years and leave with a massive debt and no real professional nous; 
• or you can try and get into (extremely competitive) Medical School, thereby guaranteeing future success. 
The sadness is that young people are being forced to make big weighty life choices whilst still very young and callow. And if they make the wrong choice, they could carry the consequences for decades. 
However, these days the opportunities for studying whilst earning are huge. In most cases young people can protect themselves from an enormous hole in their finances by choosing to study through distance learning courses, with total flexibility and a lack of time constraints – and still continue to work and get paid. They can get experience of the workplace while studying for the professional qualifications they need to get ahead, and without the prospect of unnecessary debt. 
A smooth and non-stressful path to career progression and fulfilment, and something an employer will support and reward.