Universities in Ireland could be up to €400m worse off without foreign students this September.
There are fears the funding gap will send Ireland's seven largest institutions into financial difficulty.
The Irish Universities Association believes it is unrealistic to expect students to travel this autumn.
Director-General Jim Miley says discussions with the Government are ongoing.
Mr Miley says that income streams for Higher Education institutes have been "badly hit."
He says: "We are hopeful that in two or three years we can regain that business but we have a real challenge in that short or medium term.