This comment was probably specifically referring to universities specifically in the US.This is probably more specific to the US, where university was historica

This comment was probably specifically referring to universities specifically in the US.This is probably more specific to the US, where university was historically a means of socializing and networking for the sociopolitical elite and has since turned into an indicator of class or status. A lot of people are going into university because that's just what middle and upper class people do - a lack of a university education imparts a big cut in terms of status. Legislative requirements for degrees means that someone needs to study for 4 years (most of which will be on topics unrelated their job) otherwise they're locked out of employment options. People are forking over tens or hundreds of thousands of dollars mostly because society expects them to. I think more and more people are realizing that the benefit of a university education isn't very good for the cost. Don't get me wrong, it is a positive return on investment, but it could probably be better structured as a vocational school for most people. If my parents didn't pay for my education, I probably would have tried doing a coding school and going directly into the workforce. I learned a lot of cool stuff in university, and attending a prestigious school opened up many opportunities. But most of the former was irrelevant to my job, and the latter is basically just an elaborate means of signalling status (which, while it definitely helped me I fundamentally don't think it'd be fair to hire a university grad simply for being a university grad if a non-grad as the same or better skills).