1) Higher education is facing challenges as qualifications are losing their signaling value and skills have become more important. Employers complain that graduates lack needed skills while skills in populations have not increased despite rising educational attainment. 2) Digitalization is transforming work and skills demands, lowering the half-life of qualifications, and opening new opportunities for learning. However, higher education is slow to adapt and not yet attracting older learners to lifelong learning. 3) Quality assurance must address emerging issues from new credentials, skill assessments, and learning routes while maintaining standards. Trust in qualifications requires transparency in learning outcomes and assessment.