This was more the case before our venerable institutions were turned into modern day businesses. Used to be that a university was a scholarly, research oriented

This was more the case before our venerable institutions were turned into modern day businesses. Used to be that a university was a scholarly, research oriented institution, and vocational education was the domain of technical and further education colleges (to sub degree level). Government funds, research grants and philanthropic bequests are either drying up, or come with onerous conditions (e.g. ban on stem cell research institution wide). What we've seen in the last 25 years are universities entering the vocational education market and acquiring technical and further education colleges in the hunt for revenue and growth. Add to this full fee paying places with lower required entrance scores (you can actually "buy" an engineering degree now), and industry's incessant demand for vocational training and you'll find most universities simply ain't what they used to be, more's the pity. Now, your education might not be just a piece of paper - mine sure isn't (most guys laugh at my major) - but the sad fact of the matter is that an undergraduate degree is simply a meal-ticket for a great many people.