This year's graduates owe £12,180 on average, an increase of £4,055 on 2003, according to a study by NatWest bank.
The study found that this year's new students expect they will need £26,000 to pay for their time at college.
Eighty-four percent of them predict they will get a part-time job, although only 35% of undergraduates found work this year, an 18% decline on 2003.
Of those who have already lined up a part-time job, three-quarters believe they will not be able to cover their living expenses and tuition fees without the extra income.
Nearly half of students with part-time jobs admit to skipping lectures in order to work, and over a fifth have considered dropping out of university to make their part-time job a full-time one.
A third believed it would take more than ten years to pay off their debts, an increase of 13% on those surveyed last year.
NatWest surveyed more than 1,000 graduates, 1,000 students and 1,000 sixth-formers in England, Wales and Scotland.
Anne-Marie Blake, head of student and graduate banking at NatWest, said: "Although the thought of graduating with debt can seem daunting, a university education gives you a great footing for your future career. The value of a university education should never be underestimated."
