UUKUniversities UK
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We have asked HEFCE to lead a task force, which will include UUK, UKBA and the NUS, to work with London Metropolitan University to support affected students and enable them to continue their studies in the UK.
UUK was formed in 1918 and was previously known as the Committee for Vice-Chancellors and Principals (CVCP).
UUK chief executive Baroness Warwick said fee income would be 'minimal' during the 2005-8 spending review period.
A UUK spokesman said: "We are disappointed that the UCU has decided to pursue a damaging course of industrial action aimed directly at disrupting students' education.
Universities -particularly the most popular ones such as Oxford and Cambridge -needed time for interviewing candidates and studying portfolios, said UUK.
Raising fees to pounds 5,000 a year - the minimum state subsidy as presented by Mrs Hodge - would generate more than pounds 2bn a year for universities, said UUK president Professor Roderick Floud.
UUK chief executive Baroness Warwick said the report showed there was 'no evidence' of a problem with the existing set-up, but made clear that research would suffer if ministers refused to think again.
UUK president Roderick Floud said it was his personal view that a graduate tax would be fairer and simpler than making students pay back loans at commercial rates of interest.
UUK, the sector's umbrella body, welcomed the report.
They met Education Secretary Ruth Kelly MP, Huddersfield MP Barry Sheerman, who is the chairman of the Commons Select Committee on Education, and Baroness Diane Warwick, chief executive of UUK.
UUK warned that demand for foundation degrees - the two year job-related courses that Ministers believe will account for most of the growth up to the 2010 target date - was uncertain.
UUK president Professor Steve Smith said: "It is essential that as a society we respond rationally to the issue of extremism.