Graduate and Degree Apprenticeships (G/DAs) are relatively new work-based learning (WBL) degree programs in the UK which were established with the aim “to meet key skills needs, enhance productivity, strengthen university and employer partnerships, and offer a new route into work”. These programs have been growing in popularity in the UK in recent years. While work-based learning itself is not a novel concept and several countries in the international SIGCSE community offer WBL programs in higher education, formal degree programs remain rare. This work presents an exploration of some of the challenges and opportunities in running such programs in the UK as the programs became formalized. We sent an initial survey to all 61 institutions in the UK that offer G/DAs in computing. 18 institutions responded and we conducted in-depth follow-up interviews with representatives from 10 institutions. We report themes related to the kinds of students and employers participating in these programs, how the design of G/DAs differs from that of traditional degree programs, and differences between these programs that may not be initially apparent. These findings provide insights that can support educators interested in developing similar formal WBL programs.