I begin this article by discussing the recent work of academics and activists to identify the advantages and issues relating to co-operative forms of higher education, and then focus on the 'worker co-operative' organisational form and its applicability and suitability to the governance of and practices within higher educational institutions. Finally, I align the values and principles of worker co-ops with the critical pedagogic framework of 'Student as Producer'. Throughout I employ the work of Karl Marx to theorise the role of labour and property in a 'co-operative university', drawing particularly on later Marxist writers who argue that Marx's labour theory of value should be understood as a critique of labour under capitalism, rather than one developed from the "standpoint" of labour.