For hundreds of thousands of final-year high school students in England, Thursday was a day of high emotion as they learned how they did in exams that will largely determine what they will be doing over the coming years. Early morning nerves were followed by either joy or disappointment as students learned whether they achieved the grades required for their chosen university or other higher education option. This year's grades have been adversely affected by government efforts to get grades back to pre-pandemic levels following three years of grade inflation.