It's simplistic to say that it's just raising tuition fees that has shafted the less well-off. University used to be for a smallish and highly academic subset of the population, and it was free for anyone who fitted that profile. That's the reason university degrees were a strong currency for future employement - it was an indicator of a willingness to study hard and ability to think in an abstract way, regardless of the subject studied. But when Blair announced that he wanted 50% of young people in university, it diluted that currency, while placing such heavy burdens on the funding mechanism that it was impossible for university to stay free. So instead of a few people getting a great opportunity, suddenly lots of people have a pretty variable and sometimes downright shoddy one, that they have to pay for.
In effect, what Blair achieved was to keep a generation of young people off the dole queue for 3 extra years, doing in some cases pretty piss-poor 'degrees', at their own expense rather than the State's and not mucking up the employment statistics. It was a disgraceful piece of sleight of hand and has left a generation shockingly indebted, often with no prospect of ever paying off their debt, inflated employment expectations and no practical skills.
The only way to go back to free university places with a strong academic reputation (and hence a real correlation with future earnings) would be to shut down all but the most academically demanding universities, massively ramp up financial support for less well-off applicants, and focus on a range of high-quality practical, vocational learning for anyone who doesn't meet a stringent - rather than politically-motivated and meaningless - set of academic standards.
As it is, what's going to happen in the near future is that the Russell Group will go independent, start charging US-type fees, and then people like my DP - who grew up in working-class Liverpool, worked his b*s off at grammar school and Oxford and is a real example of social mobility, will never, ever have that opportunity. In the name of ending 'elitism', New Labour entrenched it beyond anyone's wildest dreams.
(sorry about the rant, this subject makes me really, really angry)