University is not the new high school. Community college and trade school is the new high school. Not everyone is suited to a university education, or wants one.
I oversimplified. I would say that all three of those should be an option, that one should not consider their education complete till they'd gotten through either university, college, or a trade school. I'm even a huge advocate of apprenticeships. I suppose those could be rolled up into the trade school category. But I believe that leaving university out of that group (only counting college and trade school) ignores a large and important portion of the economy. Also, the liberal arts portion of schooling is important for a citizen.