No we don't.
University is a bad option for most students. We need to get a grip on the idea that
people need different educations.
University should be for geeks, swots and speccies;
Polytechnics for craftsmen and artisans;
Technical colleges for skilled office trades.
Unfortunately we, as a society, have lost sight of the fact that academics don't generate wealth; craftsmen do. Middle management should always earn less than skilled engineers and carpenters. It should not be a sign of failure to become a plumber; it should be a greater achievement than a degree.