Universities offer longer programs leading to degrees and a wider range of career options. "
Even "Chris" the electrician would have found that out!
While we certainly need skilled workers such as electricians, the aforementioned "Chris" would find his career options would be much wider were he to have completed the degree course in electrical engineering. (All other things being equal, too, remuneration is much more attractive for those sporting a bachelor degree in engineering).
I am talking here as somebody who spent the last several decades of his working life in roles best described as being that of a "Busted @$$ Electrician" - and who if had his time all over again, would have attempted the bachelor of engineering course from the outset.