To hate the expression "University of Life"

[cantonwanton]

Every time I hear or see this on facebook or in real life, I want scream or head butt someone.

NO. You are not special of having lived, we all have, graduates included.
It's some sort of snooty DailyFailesque phrase, of elevating one's self-importance.

It's demeaning to those who actually studied for a degree and got one. I have no issue at all with people not having degrees, so stop trying to pretend you have one, and somehow by having lived you are more experienced/knowledgeable than the rest.

Or worse still, full time yummy mummy

I've heard it said in both ways, so it's not really the phrase that matters. It can convey a multitude of attitudes and can be perceived in a multitude of ways depending on the attitude of the listener!

My exes dad meant: "I didn't need to be spoon fed information like you young idiots, I made my own way" - he was not actually life experienced or successful and mostly made money under the counter!

A good friend meant: "I didn't go to university, I spent the time fannying about learning about different subjects and people and jobs and made my life that way" - is a very interesting, intelligent person and has a very good life

How about mature students? Do they have to give back their diploma from the University of Life when they graduate?

Yes, yummy mummy is another.