Applications to business schools in the United States have witnessed a sharp decline, with international student interest falling significantly amid growing uncertainty over immigration rules and visa policies under President Donald Trump’s administration. According to a new survey by the Graduate Management Admission Council (GMAC), applications to US graduate business programmes from international candidates dropped by 38%, highlighting the challenges American universities are facing in attracting students from overseas.
The decline comes at a time when US business schools are increasingly competing with institutions in Europe and Asia for international students. While international applications fell 38%, applications from domestic candidates in the US registered a comparatively smaller decline of 6%. Overall, applications to full-time MBA programmes in the country fell 27% for the incoming class of 2028, reflecting a broader slowdown in demand for graduate management education.
The decline has been reported across different categories of business programmes, including online MBA courses, indicating that the change is not restricted to traditional classroom-based management education. Several prominent American business schools have also experienced a drop in applications. The University of California, Los Angeles (UCLA) Anderson School of Management reported a 21% decline, while Georgetown University’s McDonough School of Business recorded a 22% fall. Duke University’s Fuqua School of Business also reported a comparable decline in overall applications.
At UCLA Anderson, international applications fell by approximately 30%, compared with a decline of around 10% among domestic applicants, according to Gary Fraser, associate dean of the school’s full-time MBA programme. He also indicated that some admitted candidates chose other institutions after receiving more attractive financial aid packages.
The impact is also visible in student enrolment figures. Indiana University’s Kelley School of Business enrolled 57 students in its latest incoming class, compared with 106 in the previous year, marking a reduction of nearly 46%.
Changes in immigration regulations and uncertainty over the process of obtaining student visas have emerged as significant concerns for prospective international students. Some applicants have reportedly faced difficulties securing visas even after receiving admission offers from American universities. The uncertainty surrounding their ability to travel, study and subsequently explore employment opportunities in the country has made the US a less predictable destination for higher education.
Financial considerations have further complicated the situation, with competition for scholarships and financial assistance influencing students’ final decisions. Universities are finding it increasingly difficult to retain admitted international candidates when competing institutions offer more generous funding packages.
However, the impact has not been uniform across all American institutions. Some highly selective business schools have managed to maintain or increase their international student representation despite receiving fewer applications. Dartmouth’s Tuck School of Business increased the proportion of international students in its incoming class by seven percentage points to 29%. At the Massachusetts Institute of Technology’s Sloan School of Management, international enrolment reached 203 students representing 65 countries.
The broader global picture also indicates a shift in international education preferences. GMAC’s 2026 Application Trends Survey found that applications to graduate management programmes worldwide declined by 10%, while global MBA applications fell by 13%. However, institutions in continental Europe and East and Southeast Asia reported growth in applications, supported by international student demand.
The survey, conducted between June and August 2026, covered 1,162 graduate management programmes at 314 business schools across 39 countries. The findings underline how immigration policies, financial considerations and changing international preferences are reshaping the global business education landscape, with American universities facing increasing competition for overseas talent.
