For the first time since Italian Unification (1861), the number of pot
ential entrants to Italy's universities is declining rapidly. This sit
uation is due to the fall in the birthrate which began in the 1960s, f
irst and most dramatically in the northern regions, later and less spe
ctacularly in the rest of the country. The present study, based on the
population of young people of university age, shows that their number
will fall by 31-35% between 1995 and 2008. An international compariso
n brings to light the unique nature of the problems that characterize
the Italian context. The hypothetical scenarios for the evolution of t
he student population, based on various envolment rates (by age and by
level), indicate the possibility of large regional imbalances and eve
ntual decline for the university system if, as has traditionally been
the case, it remains almost exclusively geared to educating young peop
le (at present only 5% of the 20 or over age group holds a university
degree, corresponding to at least 4 years post secondary school educat
ion). Yet this is also a historically unique occasion to completely re
structure higher education in Italy, made possible by the fall in the
number of young people and by the programmed retirement of almost half
of existing university teachers.