What is the purpose of the university? What is the purpose of a university education? What is the benefit to the individual of a university education? What is the benefit to our society of someone with a university education?
It appears that its primary function is to separate the general populace its tuition money, honestly. If one wants to become truly educated (as opposed to pursuing a credential), one can do that at the local library and online. Sadly, however, for many the credential is indispensable.