A Thought on Universities

I wonder about the true propose of universities. What is their real purpose? Someone told me we attend universities for their credentials, their stamp or label. Truly, what does their label mean? Does it mean that you are the best or ranked high in the field you studied? Then of course the university you attend would have to have high ranks among competitive universities, in order for their graduates to be perceived as leaders in their field. But, I have worked alongside college graduates who did not earn recognition for their hard work and studies. I have met people who have attained positions they have sought, but are so backlogged in debt that they barely enjoy their success. I study at an university for my own gratification and I think about the perks afterwards. And I can only hope that I get what I pay for.