The whole idea of tertiary education for all is a joke. The whole point of a degree/PhD was that the top 5-10% intelligent people could study specialised, intellecutally demanding subjects and were then employed, for example, in scientific discovery or in the design of complex engineering.
Nowadays armies of graduates are finding their degrees in media studies are pretty much worthless...less than worthless in fact as they've paid for the privelage in course fees and student loans, only to end up in a call centre or macdonalds on minimum wage. It has kept them out of the unemployment numbers for 3 years though which suits Labour just fine.
Pretty disgraceful of Labour really, and the only solution I can see is for the govt to publish lists of "required skills with a current shortage of graduates" and allow undergraduates fee-free study and even cash payments to study those degrees. This would be paid by even higher fees in non-required positions - the ones students seem to want to take these days, but that business or society actually has no need of in such numbers.
hopefully that would dissuade people doing interior design degrees and encourage more engineering etc.