Purpose: This qualitative work aims to explore the university students' attitude toward advantages, drawbacks and prospects of ChatGPT. Design/methodology/approach: This paper applies well accepted Colaizzi's phenomenological descriptive method of enquiry and content analysis method to reveal the ChatGPT user experience of students in the higher education level. Findings: The study's findings indicate that ChatGPT enhances the quality of learning and facilitates faster learning among university students. However, despite numerous positive outcomes, it is noted that ChatGPT may diminish students' creativity by swiftly addressing their critical queries. Over time, students may experience a decline in patience and critical thinking skills as they excessively rely on ChatGPT, potentially leading to ethical misconduct. Originality/value: This paper primarily explores the advantages and drawbacks of using ChatGPT in the university context of Bangladesh. The present study creates a platform for future research in this domain with comprehensive study design. The study results alert the policy makers to improve upcoming version of ChatGPT with convenient user experience and academicians as this paper unleash several positive as well as negative consequences of using this AI-enabled chatbot.