[Dragar]

Here's an argument:

Left to its own devices, shouldn't the market price any degree at pretty much the benefit in pay it gives you (discounted by time etc.)?

In fact, given the poor judgement of young people and the premium of the university 'experience', I'd expect it to get priced a bit higher than the wage advantages would indicate.

In the UK, student fees are the same whether you study English or Physics. The differences in costs to support a student (library card versus lab equipment) is quite pronounced. There's a good argument English students are subsidising Physics studetns.