Depends on the person.
DS1 went. He knew what he wanted to do and went away to university for four years to get the necessary qualification.
DD did the same. She as since switched careers.
DS2 did A levels but didn't enjoy school much so decided not to go to university. He continued partime with the retail job he had in the 6th form, passed his driving test, got some sports qualification. A year after leaving school he started a 4 year advance craft apprenticeship (sp?). He is now earning £50K+ has lived in his own house for more than a year, and is debt free apart from his mortgage.
A degree doesn't guarantee well paid work, and you can still do well without one.
Lots of people I know rattle on about the experience of going to university. DS2 had similar experiences to DS1 & DD even though he stayed at home and they moved 2-3 hours car ride away. He met new people at work and through sport. He partied and if he got drunk he cleaned the mess up.....he grew up! you don't have to go to university to do that.
We still have 3 teenagers at home. I would be happy for them to do a degree. But only if they pick a subject that leads into a proper career, engineering, law, teaching etc.
I know others will disagree but I don't want my DC doing a subject, just because they enjoy it and can't think of anything better to do. Mine will be responsible for their own debt, and if they have no final goal in mind at 18 or 19 they should get a job instead....hopefully a job with training or day relaese which will lead a good career. Lots I know will disagree, but what is the point leaving university in your early 20's and working in a shop or call centre. Or even worse drifting into a post grad course and getting into more debt.