It's understood that over 100 prospective European students have withdrawn applications to study at the Welsh university of Aberystwyth following the recent referendum result.
According to acting vice chancellor John Grattan, around half of those that pulled out did so the day after the Brexit vote.
There are concerns that the drop in European students will negatively impact the finances of some institutions, as EU and international students can contribute a substantial amount to their overall income, with most paying between £10,000 and £15,000 per year in tuition fees.
Aberystwyth had 800 students from EU countries in 2014/15 and 600 international students from outside the EU. In total there are around 120,000 European students at British universities.
Other Welsh universities have said that they face uncertainty following the decision to leave the European Union and it could negatively impact student numbers.
Universities are working to address concerns from students who are starting courses in September. It's already been confirmed that there will be no changes to tuition fees or student loans.
Meanwhile the Welsh Government said that students are still welcome in Wales.