The Importance of Going to University

In the past going to university was something only very few people did. It was considered an option for people who wanted to pursue very specific careers such as lawyers or doctors. However, nowadays university seems to be somewhere that a person must go to if they want to be able to get any kind of job, not just very specialised jobs.
The cost of university is very expensive so this makes the price for success high if this statement is indeed true. Given the high cost of university, and the many people that benefit from this high cost, could it be that going to university is not as important as we would believe in order to be successful?
Useful Vocabulary
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