I am 23 years of age. Having come from a poor and working class background I can say that I have experienced one of the many alternatives to pursuing education; going straight into unskilled work since 16. Factory, warehouse, call centre, sales, shop work, you name it I've done it, and I've hated most of it because I knew I was always not fulfilling my potential or challenging or developing myself as a person as much as I wanted to. It made me feel quite hollow at times. It has developed some personal attributes that I am proud of though, which can only be gained with experience. Resilience, great communication skills, perseverance, patience, determination and personal responsibility just to name a few. As previously stated though, I feel my intellectual development has just been hibernating since the age of 18 and only now am I starting to realize my potential and utilize it. I am entering education this year though and I can't wait.
I would say that university it is not the 'right' path for some people, and school leavers certainly need to lose the idea that going to university is the done thing, or it is what is expected. If you do not feel passionate enough to study something for 3 or 4 years and put in an awful lot of work to achieve a good degree, then just don't bother. I've met quite a few people who just go to university to get drunk most days and avoid real work, these people are sadly just wasting their own time in the end, albeit they are having fun; but it's not worth getting into thousands of pounds worth of debt for.
Vocational qualifications go a long way towards developing yourself in that direction if it's what you want to achieve and these type of courses mostly do not involve continuing education onto university level. The other two options from my point of view are you either enter a line of work or industry of which you want to sculpt a career out of, and then start from the bottom and work your way up, old school style. However with the economy the way it is I doubt the majority of employers now would be willing to hire junior members of a team when they are having to make cutbacks and redundancies, so perhaps right now this pathway is not as viable as it once was. The last option is opening your own business, creating a product you want or simply becoming self employed if you are in a position to market any skills, whether already existing or in development.
I'm afraid that is all I can offer on the matter, I am only giving you examples that can relate to my own knowledge and personal experience. I think you are doing the right thing for questioning your future path though, a very wise thing to do.