I got yer business model of higher edumacation right here: It seems there is an upper limit to how much people are able or willing to pay (or borrow) for their education. HM Goverment's appalling move to increase the upper limit on university fees has resulted in a decline of 54 000 admissions.
This should be a warning to governments playing with fee increases. Too much and you get Quebec, and lose. Or you get the UK, and lose.