More A-levels pupils were handed the very highest grade this summer, but the overall pass rate fell for the first time in more than 30 years, official figures show.
In total, just over one in four of exams were awarded an A* or A grade, down 0.3 percentage points on last summer.
But the proportion of A* grades handed out rose to 8.2%, up 0.6 percentage points on 2013.
And the overall A*-E pass rate fell by 0.1% to 98% - the first time it has fallen in 32 years.
Record numbers of students are heading to university this year, with almost 400,000 accepted on to degree courses already.
Didn't get the grades you were expecting? You can still apply for university courses through a process called 'clearing'.
Jane Parry is lead tax partner at PM+M. Here she explains how parents can keep the cost of university funding down.