Universities are jubilant about the Federal Government's response to the Knight review of the student visa program. Behind the scenes, university finance officers will be breathing deep sighs of relief. Labor's previous changes to international education had significantly reduced the income stream from international enrolments; now, the flow of dollars is expected to pick up again. These measures might well help cash-strapped universities, but they have some worrying characteristics in common with the international education policies of the Howard government. As we now know, those policies---which were designed to encourage education 'exports', help plug the growing funding gap faced by universities and reduce skills shortages in the labour market---had unforeseen consequences.