There would be no college. I messed up. Here I go. I believe that you are correct in saying that we recieve knowledge from the university in return for our tuition and hard work. But you must also realize that knowledge alone is not power.
Power is knowledge aplied with wisdom.
The university, I believe, should help the students gain both knowledge and wisdom, along with the other skills discussed in class such as communication, reading, and writing skills. So the function of the University is to give in return to the creators, knowledge. I believe that the university does not give us anthing in return. But it is the dedication and the hard work of the student that will help the student obtain what he is looking for. The University basically provides knowledge to the students who are willing to work for it.