Character Formation is what Aristotle said was so good about studying philosophy. In his time, philosophy effectively meant education in general. He said that study and thought did not just improve the status of our intellectual lives, but that it also made us flourish into being more human. As a value proposition, Aristotle's is a pretty strong case for ongoing education throughout our lives.
In the 21st Century, though, there are so many subjects and so much information that we have to be judicious in what education we seek even if we treat our educations as ongoing and lifelong.
So what are we to value? We can decide based on practical considerations, based on job prospects, or as Aristotle suggests, based on a desire to form a strong character for ourselves. The debate rages on.