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Growing numbers of students are unhappy with their university experiences as they face mounting tuition fee costs.
In the first comprehensive survey of the top-up fees generation, one in five said they were not satisfied with the quality of their courses overall.
Students were critical of their library and computer facilities, while the most common complaint was about inadequate feedback from tutors.
The results come at a crucial time for universities. Vice-chancellors are lobbying the Government for the power to charge students up to £7,000 a year, double the current level.
Record numbers of sixth-formers have applied to university this year but those graduating are struggling to find work in the recession, leading some to question the value of a degree.
This year's finalists are the first to pay the £3,000 top-up fees.
The National Student Survey questioned more than 220,000 final-year students. It found:
20 per cent said they were unhappy with quality of library and computer resources.
Cambridge saw its satisfaction rating fall from 93 per cent to 91 per cent. Oxford did not release results.
The National Union of Students warned that vice-chancellors could not be "complacent" about what they gave demanding undergraduates.
NUS president Wes Streeting said: "We are concerned the survey revealed a dip in levels of satisfaction as the first students to pay top-up fees prepared to graduate."
The results add to pressure on the Government over university funding, which will be reviewed this year.
Lord Mandelson, who is responsible for higher education policy, has signalled his willingness to see higher fees.
Higher education minister David Lammy said students remained very satisfied: "High-quality teaching is essential for a strong university sector, and it has never been more so than in the current climate."
