Every year at Whitby the Newcastle degree course gives a concert, from lecturers & students.
Some good stuff there. And the lecturers are well know performers, so as well as the theory behind the subject they can give their students performance and business skills.

I agree with both Allan's points. A lot of the students are already folk musicians, and all need A level music which I think means playing an instrument to a reasonable standard. Also Music is a valid subject, and folk as well as classical.

But not all young folk musicians are studying folk music for their degree. Some are studying history etc. And, of course, you don't need a degree to make music.
Good luck to them either way.