Yes, the vocational training here is a shambles, and that gets the government into its own contradictions. On the one hand, people don't want immigrants, on the other it's clear that there's a tremendous skills shortage (at all levels) in the UK that can only be fixed in the short term by (Polish, EU, US) immigrants.
Not to venture into politics (so skip this please if it is upsetting), there's an entirely different reading of the midterms, which isn't that Americans are unhappy about Iraq, but that Iraq is the theme that people can use to express their real worries: the middle-class is being put under a lot of pressure from rising costs of what defines a middle-class social identity: the price of a home, higher education, and health care.
To bring it back to the OP, the question isn't if the US or the UK is better value for money, the question is why are we having this discussion in the first place? Shouldn't education be one of the few places that the market shouldn't decide?