FEWER people believe university is worth the time and money than 20 years ago amid declining job prospects and anger over student debt, a major survey revealed today.

The number of people saying university is not worth attending hit a record high of 34 per cent last year, more than double the 15 per cent who said the same in 2005, British Social Attitudes (BSA) research found.

The belief that graduates are better off in the long run has meanwhile collapsed from 50 per cent in 2005 to 36 per cent.

The findings come amid pressure to reform the student loan system, with recent graduates describing it as unfair due to high interest rates and the unlikelihood of paying off their debt.

Opportunities for graduates have also reduced, with 700,000 now out of work and receiving benefits — an increase of 200,000 since 2019, according to the Centre for Social Justice think tank.

Despite calls from the Conservatives and Reform UK for cuts in student numbers, the BSA study found only 18 per cent backed a reduction, with most believing university access should increase or remain the same.

BSA author Alex Scholes warned that declining confidence in universities risked further exacerbating financial problems in the higher education sector.

University and College Union (UCU) general secretary Jo Grady said: “A university education is a transformational experience that helps adults of all ages develop, unlock career paths and broaden their horizons.

“No-one should be deterred from entering higher education, but the high costs and decades of debt most people are loaded with under the current system are clearly having an impact.

“The government needs to end the student debt system and publicly fund universities so that everyone feels free to access them.”