Students need better government protection if a university in England goes bust and cannot pay its debts, according to MPs.

In a report, the Education Select Committee said 24 institutions are now said to be at risk of insolvency within the next 12 months – with many already making job cuts, closing courses and selling off buildings or land.

Helen Hayes MP, who chairs the committee, said the priority was to protect students “who have invested time, money and energy” into their studies.

A Department for Education (DfE) spokesperson said the government was committed to creating a secure future for universities so they can deliver for students, taxpayers and the economy.