The Filter, Human-Capital and Maturation hypotheses are taken as the starting point for an analysis of the roles of a University. Three separate Filter mechanisms are postulated, and the Filter as a whole shades into Human-Capital formation. Three Human-Capital roles are proposed: this area in turn merges into that of Maturation which can be viewed in two distinct ways. A student viewpoint, from a psychological perspective, is derived from the analysis of questionnaire responses of the whole of a first-year University entry (approximately 2,300 students). The roles referred to above appear out of the analysis. Students see the roles as having different importance: active Maturation/general Human-Capital and vocational Human-Capital are seen as the most important. However, there are differences which depend upon the degree that students are enrolled for. Broadly, the results indicate that Arts students see Maturation as being more important, while Commerce, Medical and Engineering students are more influenced by the vocational view; but the picture is not a simple one. A discussion of the trends for seven different degree groups is given.