Leave campaigners have argued that universities and the science sector will not lose funding if Britain leaves the EU.
Employment minister Priti Patel is amongst those arguing that a Brexit vote would enable government to tack back control of the money currently being sent to the EU and that there would be enough to ensure those universities receiving funds from Brussels would continue to get funding.
However, Prof Michael Arthur, president of University College London (UCL), which has the largest total number of EU students, fears that his university along with others will lose a significant proportion of EU undergraduates if Britain leave Europe. Specifically, there are concerns that EU students wouldn't be able to afford to study in the UK and therefore universities will possibly lose a substantial amount in lost fees.
It's understood that UCL receives £14m each year in fees from EU undergraduates. Although it's not expected that all EU students will stop coming to study in the UK if the country votes for a Brexit, there are concerns that it could lead to job cuts and damage the UK's reputation of British universities.