I think part of the unspoken idea of tuition fees is to make more people think about the long term payback, what they will do with it. So require universities to offer better courses, and also only go when it is worth it.
Someone said up thread their sister was penalised now for not having a degree. She could / should go now and get one. I think for adults with a job, studying is not too difficult to fit around work.
One of my brothers friends didn't go at 18 because he wanted to get a job. Then did go in his early 20s and approached it with a whole different attitude and did very well.
University is not for everyone, and certainly not at 18. I think there are plenty that would benefit from working for a while and then going - it can help you choose the right course, and be clear on motivation (e.g. getting a better job).
Personally, it was well worth it. I am nearly 40 and my degree is still the gift that keeps on giving. But then I went to Oxbridge. I worked hard to ge there and hard when I go there. E.g. I wrote over 100 essays during the three years (I gather some courses its 1-2 a term). None of them counted towards my degree which was all settled by 8 exams sat in a week at the end of the third year.
My course was interesting and I learned lots of things. Some of it useful, some not. Most importantly, it taught me how to thing. The requirement to produce two, 2000 word essays a week teaches you how to get things done. I used those skill every day now in a high level advisory job in business. How to filter through reams of complex imformation and pick out and analyse what is truly important.
it also freed me. I spent my 20s pursuing an artistic career, which was wonderful but always a struggle. As I approach my 30s I wanted to change my working life, for more stability and better earnings before I had a family. My Oxbridge degree still carried plenty of kudos and helped me get a first job into a different career path, and then a second. Now, 10 years later, I am in an interesting, satisfying and well paid job, and probably only a couple of years behind where I would be if I'd pursued this path straight after graduating.
I'd also say I got a lot out of extra curricular stuff while a student. the student bodies at those universities is highly motivated and hugely knowledgable, so there's lots of stuff to get stuck into and lots of people that will show up and turn an idea into reality in a few days flat.