University income from foreign student fees collapses Australia’s universities face a collapse in their income from foreign student fees, with AU$20 billion (US$15.5 billion) of the value of the international education sector expected to disappear by the end of 2022. Higher education institutions are already facing financial upheaval as the flood of foreign students enrolling in Australian courses dries up. A report released on Monday predicts that Australia’s continuing border closures that prevent foreign students enrolling will slash the value of Australia’s international education sector: collapsing from AU$40.3 billion in 2019 to AU$20.5 billion by the end of 2022. The report, based on new modelling by Dr Peter Hurley from Victoria University’s Mitchell Institute in Melbourne, has uncovered the impact of a third academic year with no foreign students arriving in Australia.