US business schools remain a top choice for international students, but recent enrollment trends suggest a potential shift. While foreign students made up 61% of applicants for the class of 2026, 20 of the top 30 schools, including Georgia Tech’s Scheller College of Business and Carnegie Mellon’s Tepper School, enrolled fewer international students last fall.
Schools cite various reasons for the decline, from lower-than-expected yield to a strategic rebalancing of domestic and international student ratios. Kelley School of Business, for instance, aims to stabilize international enrollment at 30-35% after years of fluctuation. Georgetown’s McDonough School and Indiana University’s Kelley School, which previously had high international enrollment, saw their shares drop significantly.
The job market for international MBA graduates remains challenging. Many companies hesitate to sponsor work visas, which impacts employment rates post-graduation. At McDonough, the job offer rate for international students fell by 10 percentage points last year. Meanwhile, uncertainty surrounding US immigration policies—especially potential changes to the Optional Practical Training (OPT) program and H-1B visas—has raised concerns about future employment prospects.
With the new Trump administration potentially revisiting immigration restrictions, business schools are closely monitoring international applications. While schools like McDonough remain committed to global diversity, the coming months will reveal whether international interest in US MBA programs can withstand shifting policies.
