London Metropolitan University has seen a large drop in numbers after losing its licence to sponsor overseas students.
Figures seen by the BBC show as well as a fall in numbers of students from outside the UK, there has also been a decline in the number of domestic students.
So far in the current academic year the university has less than half the number of students it had the previous year.
Data shows that the number of UK and EU students stands at 6,000, compared to 11,000 the previous year.
The number of places held by those from outside the UK fell from 2,000 to around 300.
The university says the figures are a snapshot and denies it is in crisis.
The UK Border agency claims it suspended the universities licence because it did not keep records on whether students were attending lectures or had a high enough standard of English.
The university denies the allegations and is taking court action.
Speaking to the BBC, Prof Malcolm Gillies said: "There are students whose applications are still being processed and there are enrolments which are still hanging on what the Student Loan Company is doing."
