Sources and impacts of foreign student flows are addressed in two papers from the Institute of International Education's 1984 conference. Summaries of conference sessions and assessments of the meaning of student flows, particularly from the viewpoints of different types of higher education institutions, are also provided. In "University-Level Student Exchanges: The U.S. Role in Global Perspective," Larry Sirowy and Alex Inkeles examine: flows from different kinds of "sending" countries to several "host" countries, policies and country characteristics (e.g., educational, economic, political) that contribute to study in the United States, the impact of foreign students on U.S. higher education, and ways to project future flows of foreign students to America. Data on flows of foreign and American students to U.S. colleges and the average costs of foreign students to different kinds of schools are examined in the second paper: "Flows, Costs, and Benefits of Foreign Students in the United States: Do We Have a Problem?" by Lewis C. Solomon and Ruth Beddow. Trend data for foreign students are examined, including enrollment by student level, field of study, and full- or part-time status; degree attainment; spending levels of colleges by percentage of foreign students; and foreign student subsidy levels and degree attainment. (SW)