The island already offers degree provision through Highlands college, which has links with the University of Plymouth.
The state education department is now considering building on that and creating a postgraduate centre to offer courses to suit Jersey's biggest employer, the finance industry.
The Swiss bank UBS has sponsored a fact-finding visit by Highlands college principal Dr Ed Sallis who, in considering possible models, visited UBS's banker training centre and a commercial school near Zurich.
Other key figures in Jersey's finance world have also been involved.
A presentation of ideas is due early next year. At present, 97 per cent of students stay on post-16 and more than 50 per cent progress to higher education. Jersey still offers grants rather than student loans.
Senator Mike Vibert, Jersey's education president, said: "While young people benefit from the wider experience gained by leaving the island, there are others, such as those with families, for whom it is difficult. We want to offer a choice."
Highlands college offers degree courses related to tourism and social services.
But tourism has flagged recently and several hotels have closed. Dr Sallis hopes one effect of a university would be to keep them open.
One potential specialism could, he feels, be a link to the conference industry.
However Jersey could not support a mainstream university on the traditional English model.
"Whatever we do would be a big investment for an island of 90,000 people," said Senator Vibert.
Neighbouring Guernsey is also a significant offshore financial centre and a longstanding rival of Jersey.
"We will discuss our plans with the other Channel Islands," said Senator Vibert.