Despite all the good intentions Tony Blair's vision of 50% of 18 year olds progressing to university has both devalued a degree, and disrupted the job market substantially. As cited last night 45% of 18-30 year olds have been, or are in further education. That means that realistically every other person you are competing with for a job now has some form of further qualification, and you are no longer THAT special.
Degrees that once defined you as part of the intellectually elite, no longer do and this is wrong. The change in funding will probably do one of two things: Cause the lower half of universities to close their doors as demand to have their name on your certificate plummets or: universities enter a market as the businesses that they essentially are and compete for your custom, offering a cheaper tuition fee for the same degree at their institution. Heralding the era of comparetheuni.com and unisupermarket.com! Buy one get one free for a limited time only at London Met. Either way those entering into a degree course will think more carefully and there will probably be fewer of them.
This aside, I do not want to see those that truly deserve to progress to university to miss out on that opportunity. University should exist to refine and excel the intellectual ability of those that show themselves to be above the average. How much money your parents happen to earn should not enter this equation, for that has no effect on how gifted you were when you entered the world or how far you may have pushed yourself. Therefore a system that assesses reasons for wanting to progress to university, as well as an outstanding A-level performance should be the determinants for progressing not money or a witty UCAS form.
As long as social mobility system remains in place, we might see university and a degree return to what it once meant!
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