The demonstration was led by Will Straw, president of of the Oxford University students union and son of the Foreign Secretary, Jack Straw.

He said the introduction of such fees would hit students from lower income families the hardest.

Students will have to pay annual tuition fees of up to £3,000 a year under plans confirmed by the government on Wednesday.

Those with rich parents will be able to have their fees paid up front and so won't get into debt Will Straw

Speaking after the demonstration, Mr Straw, said: "The Student Union is against the introduction of top-up fees, even if they are deferred.

"With these fees, the average student debt will increase from £12,000 to £21,000 over the course of a degree and that will have a huge impact on people's decision on whether they will go to university at all.

"It is going to be the people from state schools and low income backgrounds who are most likely to worry about getting into increased debt.

"Those with rich parents will be able to have their fees paid up front and so won't get into debt.

"One of the biggest myths about Oxford is that it is more expensive than other universities, but under these proposals that is going to become a reality."

The increase in fees is intended to tackle the budget shortfalls facing many universities but critics claim the new fee structure will encourage elitism.