I suspect that Labours ideas of scraping it will just lead to higher taxes for all ie poorer non graduates subsidising middle calss kids, or they will ration degree places
An potential extra tax burden can be allocated from wherever the government sees fit. Like a digital services tax or closing loopholes that are conveniently left open for global corporations.
Do you worry that the healthy poor people are subsidising the middle class sick ones through the NHS? Or that poor careful drivers are subsidising the cost of accidents for the middle class careless ones via their insurance company?
The moral hazard is non graduates (including pensioners) subsiding graduates.
Educated people design infrastructure, products, services, (public and private) that affects every aspect of everyone's life.