I went to a good uni and got a first, I also have a post grad dip and an MA. Getting those felt really important to me and when I was 18 I'll admit the experiance of going away to university was formative but that was because I was very young, from a working class backgorund and it did broaden my horizons.
I did go back to uni for two higher degrees which I was lucky to get funding for and considered a phd but by then I was already a bit disillusioned with university. Perhaps it used to be different but it almost feels now that having a degree is the bare minimum that a person has to have and that higher degrees are also becoming the norm. I know a lot of people who really want to get a degree or a masters and run themselves ragged to get one while working and raising kids and I feel like a lot of people place a lot of value or self worth in having a degree, value it doesn't really deserve.
Since leaving education I've found myself learning so much more and being able to apply it to my own work (self employed) which has little to no relation to my degrees and I know many smart, even scholarly people with no formal education beyond high school and yet as a country we are so hung up on the bits of paper we get from an institution because they validate us as worthy.
I know I probably am being unreasonable and its easy for me to say now as I've got the qualifications but I'm really not sure how much value the degree has aside from certain in science or medical professions?