Why were universities created & how did they organized to achieve their purposes

Education is like a door. Nobody knows what are hidding after the door, but when you open this door, you will find a new world. So I think the universities were created for giving students opportunity to find their potential abilities.

Human brain is developed such that it is constantly in the process of learning something new.  Humans, after finishing the school studies start highschool/university studies to major in a field to develop the nation and the world as a whole.  You see education is power - no one can take that. One cannot simply learn something that is known by everyone.  There are advanced studies to be done in all fields.  It is understood that everyone cannot major in everything.  Hence the universities are really essential to cater the interests of subjects the students would really like in pursuing after much thought.  Besides, to make a person complete with moral as well as ethical conduct, such advanced education is a necessity.

I think at present, we have a wide range of subjects to choose from than in the medieval period.  Since each field is seeing an advancement in some aspect of their stream, this creates new pathways and new subjects to major in a university.  This produces much freedom to choose from.  Also, there are new faculties giving rise to new philosophers and knowledgeable people.  The student life in a university is much to do with social life and education (that's what I think) you know, make new friends while studying.Many facilities are also present in current universities.  To add to that, there are even online degree programs or masters that you can follow if you are interested.  Such is the knowledge explosion that we experience today.

Hope I helped!