How exposed are English universities to reductions in demand from international students?, Tom Sastry, Higher Education Policy Institute publications, 2006.

This report analyses the dependence, or otherwise, of English higher education institutions on income from international students fees, and the impact of a hypothetical 25 per cent drop in international fee income. According to the report, a drop in international students fees income would have more or less serious consequences depending on the percentage of the international students fee income over the total income of the institution and also on how big the institution's surplus is. It concludes that, higher education institutions which are heavily dependent on international students fees income, would experience a very serious financial loss should there be a 25 per cent drop in international fees.