The ancient universities of Oxford and Cambridge claim to be two of the finest universities in the world, producing first-class graduates. The rigorous selection procedures ensure that only the most academically able are offered a place, regardless of background - and their unique tutorial systems are the envy of the world.
But critics say Oxbridge continues to be dominated by public school types, and still fails to attract enough pupils from the state sector. What's more, Oxford and Cambridge are being caught up - and in some cases, overtaken - by other universities, both here and abroad.
Which view is right? Diana Madill chairs a debate from Magdalen college Oxford between its president, Anthony Smith - and David Walker, editor The Guardian's Public magazine, along with an invited forum of people with strong views.