Visa Crackdown Leads to Record $3B Drop in US Foreign Student Spending

• Foreign student spending in the US dropped a record 5.3% ($3 billion) over 12 months through September, the steepest decline outside of pandemic years.
• The decline is linked to tightened visa rules under the current US administration.
• These visa policies have also caused a steep drop in international student enrollment for the 2025 fall semester.
• Overall foreign spending in the US, including travel and medical, sank 7.6% ($16.6 billion) from the previous year.
• Restrictive visa policies are reshaping US higher education and broader economic flows.

Why It Matters: US visa crackdown impacts economy and higher education.