What is the University today? In this paper, a Foucault and Deleuzo-Guattarian inspired approach is taken. I argue that the University is, today, a site of "neoliberal governmentality," which governs students and academics as sites of human capital. That is, students and academics are governed to self-govern themselves as sites of human capital. This transformation in how students and academics are governed will be identified as a recent trend through the examination of relevant UK-government reports on higher education. Furthermore, it will be identified as a trend that "decodes" knowledge -- in the specific sense developed by Deleuze and Guattari--which renders academic knowledge (the knowledge the student "consumes" and the knowledge the academic "produces") meaningless.