U.S. International Student Arrivals Plummet — And B-Schools May Be Among The Hardest Hit

The number of international students arriving in the United States this August fell by 19% compared to the same time last year, according to newly released federal data from the U.S. Department of Commerce. The preliminary numbers, published through the I-94 International Visitor Arrivals Program on trade.gov, show that just over 313,000 student visa holders entered the country in August 2025 — down from nearly 387,000 in August 2024.

Though the I-94 data includes both new and returning international students, August has historically been the clearest indicator of fall enrollment trends, especially for graduate programs that begin in late summer. According to reporting by The New York Times, analysis of Student and Exchange Visitor Information System (SEVIS) data suggests that the overall growth in international student enrollment this fall was 23% lower than the same period last year.

INTERNATIONAL STUDENT ARRIVALS, AUGUST 2024 TO AUGUST 2025

According to The New York Times, the steepest August declines came from Asia, which sends more students to the U.S. than any other region. Students from Asia accounted for more than 70% of all international enrollment last year, but arrivals this August reportedly fell 24% — the lowest non-pandemic August total on record.

Indian arrivals saw the largest single-country drop. The Times reports a 44% decline in students from India, driven largely by delays in visa processing. China, the second-largest source of international students, also saw continued decline amid ongoing political tensions and tighter visa scrutiny.

These two nationalities have long formed the backbone of global MBA cohorts in the U.S. A P&Q analysis this yearfound that Indian students outnumber Chinese students by more than 3-to-1 in many elite MBA programs, including those at NYU Stern and Duke Fuqua.

OTHER REGIONS SEE DOUBLE-DIGIT DROPS — EXCEPT EUROPE

The Times reports that student arrivals from Africa declined by nearly a third this August, with Ghana and Nigeria — two of the continent’s top senders — each experiencing drops of close to 50%. In July, the U.S. government imposed new visa restrictions on several African nations, limiting student visas to single entry and shortening their validity to just three months. Although the policy was later reversed for Ghana, the disruption had already affected fall travel plans.

The Middle East and South America also posted double-digit declines, with Iran’s student arrivals reportedly falling by 86% — the largest drop of any country in the dataset. European student arrivals, on the other hand, remained steady. Though Europe represents just 7% of the overall international student population, it accounted for 16% of August arrivals. Slight increases from the UK helped offset declines from Spain, Germany, and Russia.

POLICY TURBULENCE & VISA BACKLOGS CREATE ‘PERFECT STORM’

The sharp drop in arrivals coincides with a year of heightened visa delays, travel restrictions, and uncertainty under the Trump administration. In May, the U.S. State Department paused student visa interviews for three weeks during peak issuance season. Once resumed, students in many countries faced months-long wait times for appointments — too late for fall matriculation.

Beyond administrative delays, new policies have raised the stakes for prospective students. The federal government aggressively canceled more than 1,500 student visas in April (later reinstated them), instructed applicants to make their social media profiles public, and announced a broad push to revoke Chinese student visas. In March, the administration attempted to detain and deport international students involved in pro-Palestinian protests — a move later ruled unconstitutional in federal court.

According to a spring 2025 survey conducted by the Institute of International Education, many colleges cited visa delays, the possibility of sudden revocations, and perceived hostility as primary reasons for declining international enrollment.

Fanta Aw, CEO of NAFSA: Association of International Educators, the largest nonprofit professional association dedicated to international education and exchange in the United States, told the Times that students “haven’t lost confidence in the quality of U.S. education. They’ve lost confidence in our administration’s commitment to international students.”

B-SCHOOLS IN THE CROSSHAIRS: STEM PROGRAMS, FLAGSHIP PUBLICS, SMALL PRIVATE COLLEGES

While highly selective business programs may remain relatively stable, many believe the financial strain will be most acute at three types of institutions: STEM-intensive graduate programs, flagship state universities, and smaller private colleges that depend heavily on international tuition revenue.

Graduate programs in analytics, finance, information systems, and other STEM-designated business fields have been among the fastest-growing segments for international enrollment. According to the Times, an analysis of Department of Education data found more than 220 midsize or large in-person master’s programs in the U.S. where the majority of graduates were international students. In 55 of those programs — mostly in business, law, and tech — international students made up over 95% of graduates.

Noteworthy declines include:

• The University of Central Missouri, which awarded more than 1,500 master’s degrees to international students in 2024, reported that new international enrollment had dropped by 50% this fall.
• Ohio State reported a 38% drop in new international students
• Indiana University saw a 30% drop across its campuses
• DePaul University in Chicago disclosed a 62% plunge in international graduate student enrollment, triggering faculty pay cuts and a hiring freeze
• Niagara University in western New York, a small Catholic college, confirmed a 45% decline in international students and corresponding staff reductions.

THE HIGH-STAKES FUTURE OF GLOBAL TALENT

Beyond enrollment headcounts and tuition shortfalls, the implications are far-reaching. International students are a vital part of the U.S. academic research ecosystem. Nearly three-quarters of international students who earn doctorates in STEM fields stay and work in the United States after graduation. Foreign-born researchers now represent over 40% of all U.S. doctorate-holders in science and engineering.

The recently proposed $100,000 H-1B visa fee for sponsoring employers — a policy the Trump administration is moving to implement — could further reduce the post-study employment appeal of U.S. degrees, particularly in business and data-focused fields.

For now, the complete picture of Fall 2025 enrollment remains incomplete. Many schools have yet to release final numbers, and government visa issuance data from the summer remains delayed. But the sharp decline in August arrivals, combined with growing evidence from schools like Wharton and Fuqua, suggests that the downturn is already in motion — and may accelerate if current policies and rhetoric persist.

The I-94 arrival data is published by the U.S. Department of Commerce and accessible via Trade.gov. SEVIS enrollment data is maintained by U.S. Immigration and Customs Enforcement and updated regularly on the Study in the States website. Program-level enrollment estimates and country-specific trends cited in this article are based on reporting and analysis by the Times. Not all figures referenced from the Times are independently verifiable through public government datasets.

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