As envelopes were ripped open up and down the country, university vice-chancellors were as eager to find out the results as hundreds of thousands of anxious students.
So, a record number of undergraduates heading to campus this autumn might seem like good news for the higher education sector.
But do frozen tuition frees, rising costs, and reduced investment for universities tell a different story?
And with the prime minister encouraging more teenagers to take up vocational training, what does the future look like for universities?
Niall Paterson is joined by Nick Hillman, director of the Higher Education Policy Institute.
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