This research examines graduates' orientations to higher education at the turn of the millennium. The focus is on "millennium graduates" since this cohort has experienced a time of radical reform in higher education. Twenty-four graduates were interviewed and four orientations to higher education were found: (A) gaining a qualification for a specific job; (B) preparation for a job; (C) developing life skills and learning how to think; and (D) education for its own sake: growing as an individual. Differences in graduates' notions of a degree, and of knowledge and skills are evident across the orientations. In particular, orientations A and B have limitations inherent in the skill profile. A link is suggested between orientations A and B and previous familial experience of university and graduation, since first generation students are more likely to hold orientation A or B. (Contains 2 tables.)