Deakin University is considering the closure of one of its four Victorian campuses, in a move the tertiary union believes will "cripple" regional students.

As part of its 2020 strategy, the provider said it was considering "a range of options" for the future of higher education in Warrnambool, amid declining student numbers.

Deakin vice-chancellor Professor Jane den Hollander has met affected campus staff.

She said enrolments at the university's Warrnambool campus, about 250km south-west of Melbourne, had continued a steady year-on-year decline, from 1,342 students in 2011 to 872 forecast this year.

The university said it hoped to maintain the campus, but that "all options" were on the table.

"Our engagement through Warrnambool 2020 confirmed there is a growing gap between what Deakin offers and the particular needs of the region's students, businesses and the broader community," Professor den Hollander said in a statement.

"The desire is mostly for certificate and diploma qualifications at the sub degree level.

"We need to find a solution that will drive increased participation in higher education across the region, will be more sustainable and better suited to local education and job requirements.

"At this stage we have not confirmed a final direction, but I can say that we are in discussions with a range of people and organisations as we work to find a better higher education solution for Warrnambool."

Deakin University also has campuses in Burwood in Melbourne, and Geelong and Waurn Ponds.

Warrnambool campus would be terrible loss: union

The National Tertiary Education Union's Matthew McGowan said the loss of the regional campus would "cripple" local prospects.

"Students, particularly in regional areas, are significantly impacted by access to higher education," he said.

"If you've got a university in your town, your chances of getting a higher education and greater opportunities in life are significantly increased."

He said the union would fight moves to reduce services.

"These things are an indication of the more managerial and corporate approach that universities are taking to their admissions," he said.

"We need see universities ensure they are meeting the needs of the communities they are there to serve.

"It's about the fabric of the community around Warrnambool, and it would be a terrible loss to the community if it were to close."