During 2014 and 2015, 240,000 migrants sought asylum in Sweden, and the integration of the newcomers into the labour market and society has become a heated debate since then. Higher education has become one of the means for integrating migrants with higher levels of formal education, which is a new challenge. Higher education policies in Sweden are, however, also challenged by balancing between equality and employability. We claim that these challenges are not new, but part of Swedish education policy since the 1960’s. The challenge of balancing between equality and employability also affects the way that the challenge of an ageing population is handled in educational policy. Here, there have been contradicting reforms between getting students enter higher education as early as possible as a way to benefit the national economy, and enhancing lifelong learning with special regard to mature students. In this chapter, we will discuss the challenges for higher education policies further.