The study, conducted by Moody's Investors Service, states that the disruption in air travel due to the attacks will significantly reduce the number of students applying to or attending colleges far from their homes.
The reduced demand will limit many universities to a regional market in the short term, the study states.
But the report states that institutional enrollment numbers will be unaffected because of the number of local students applying.
The study reported that demand for universities in New York City and Washington, D.C., might be the most vulnerable to a decrease in enrollment because they suffered the attacks and are located in large, metropolitan areas.
But concern about other universities in metropolitan areas varies.
Michael Behnke, vice president of enrollment at the University of Chicago, said he does not think the school will be negatively affected by the attacks despite its urban location.
"The attraction of the larger cities is so great that the attacks will only affect a few students' decisions," Behnke said.
But Behnke said he is concerned the number of students attending the University of Chicago from far away could drop, resulting from students' desire to remain close to their families.
Although Behnke said no extra effort has been made to promote the university since the attacks, Craig Fulton, director of admissions at UNC-Charlotte, said they have made a concerted effort to recruit students. "We have enhanced the school Web site dramatically to reach out to good students in and out of North Carolina," Fulton said.
