Moreover, as Sternberg himself admits, selecting based on email addresses may net users who are not undergraduate students, but, rather, staff or graduate students.

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Total FTE (full-time equivalent) undergraduate students divided by total FTE instructional staff not teaching in graduate or professional programs.

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And as far as the Obama administration is concerned, well, reducing those rates is not nearly as important as expanding financial aid for undergraduate, low-income students.

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Cambridge, whose financial plight is worse than Oxford's, said it would not cut overall undergraduate numbers, but left open the option of taking more full-fee students.

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The current undergraduate finance model, where students borrow to study for three years in a UK institution, does not provide for a future in which students might want to take course units from a range of universities, both in the UK and abroad.

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