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You don't need to be a graduate. That has been shown in the results when the government was trying to improve things. Training in early years is important and there has to be qualified and working towards qualification staff but not to graduate stage. That is what NVQs and such like are for. Wanting graduate status is, in my opinion, just the profession trying to up the anti as nurses have done by being 'nurse practitioners' and now don't actually do traditional nurseling. Parent helpers in early years settings are closely monitored. And I have to say, like any profession, I have seen some fantastic parent helpers and some really poor qualified staff. Being qualified at times is no better than mum helpers.
More and more people go to work and so younger children are going into day care or whatever you want to call it for longer periods so from that stand point it is a collaboration of parent and early years setting.
But ultimately it is the parent.
Education proper starts in reception year. preschool is just that, before school, before education, but the people who realised our education system was falling behind the countries that traditionally were behind us decided the best way to get back on top was to make education start earlier, in preschool. I have not seen the data but I suspect that it hasn't actually panned out that way.