The New Reality in Business School Enrolments

In recent years, many graduate business schools in the U.S. have relied heavily on international student enrolment. However, according to the Fall 2025 Business School Deans Survey by Eduvantis, this trend is shifting. Among 52 deans surveyed:

• Two-thirds reported that their international enrolment for Fall 2025 fell below projection.

• Nearly 80 % expressed moderate to extreme concern about international enrolment heading into Spring 2026 and beyond.

• Just ~20 % of deans expect international student numbers to bounce back to pre-decline levels by 2030.

This signals what the survey authors call a “fundamental market shift”.

What’s Driving the Decline?

The survey highlights several threads contributing to this downturn:

1. Visa & regulatory headwinds – Delays in visa processing remain a consistent pain-point for international students and schools alike.

2. Growing global competition – Other countries and institutions are increasingly attractive alternatives for students seeking an international business education.

3. Questioning the U.S. value proposition – Some institutions believe potential applicants are reassessing whether U.S. business schools deliver the ROI (return on investment) they expect.

Together, these factors suggest the decline isn’t merely cyclical—but potentially longer-term.

The Shift to Domestic Recruitment

With fewer incoming international students, business schools are responding by doubling down on domestic pipelines. Key strategies include:

• ~70 % of deans said recruiting more U.S. students has become either their “top” or “high” priority.

• Many schools are implementing accelerated programmes (e.g., 4+1 undergraduate-to-graduate tracks) to capture students earlier. 73 % of schools are either prioritising or already using these.

• Changes in delivery models: more flexible formats, micro-credentials, and shorter-cycle programmes designed for domestic students.

  
  

However, this shift isn’t without risks: cannibalising undergrad enrolment, discounting tuition, and increasing competition among schools are real concerns.

What Schools Believe Will Define Success

According to the survey, deans want to emphasise these in the new environment:

• Demonstrable ROI & career outcomes: Outcome-based narratives matter more than ever. Schools are placing strong emphasis on employer linkages and internship pipelines.

• Affordability & access: Scholarship support, transparent pricing, and flexible formats are increasingly important.

• Delivery innovation: Beyond the traditional full-time MBA, schools are exploring micro-credentials, flexible scheduling, and new formats to attract both domestic and international students.

  
  

What This Means for Prospective Students — Especially International Ones

For students — both international and domestic — eyeing business school, this shift has implications:

• International applicants might face tougher competition or fewer spots, particularly in top U.S. programmes. The decline in international enrolments suggests admissions landscapes are changing.

• Domestic applicants may find more options or incentives (scholarships, flexible formats) as schools prioritise U.S.-based enrolment.

• Programme format matters: Flexible, accelerated, or alternative credentials might carry more weight than ever, so it’s worth evaluating what each school offers.

• ROI & outcomes will matter more: As schools emphasise results, applicants should dig deeply into career tracks, alumni outcomes, and employer connections.

• Global vs local destination decision: Students considering an international MBA should compare U.S., European, Asian and other regional schools, given the shifting appeal of the U.S. market.

  
  

Why This Shift Matters Beyond Business Schools

This isn’t just a story about MBA programmes. The decline of international enrolment at U.S. business schools touches on broader themes:

• Global education flows: Countries beyond the U.S. are increasingly competitive in attracting international students — meaning shifting geopolitics and economic influence in education.

• Economic & talent ecosystems: Business schools have long been talent-pipelines into industry; changes in enrolment affect labour markets, employer networks and regional economic ecosystems.

• Institutional strategy & landscape: Schools will need to rethink admissions, format, tuition models, international partnerships, and brand positioning for the long run — not just as a short-term fix.

Final Thoughts

The survey from Eduvantis — as reported by Poets & Quants — suggests that many U.S. business schools are facing a structural challenge, not just a temporary dip. With fewer international students, and a pivot towards domestic enrolment and format innovation, the business school landscape is evolving. For prospective students (domestic or global), staying attuned to these shifts will be key in making informed decisions.

If you’re considering applying to business school — whether in the U.S. or elsewhere — take this as a prompt to:

• Ask how the programme recruits and supports international students.

• Investigate outcomes (placements, salary, alumni network) thoroughly.

• Explore alternative formats (accelerated tracks, hybrids) and what they might mean for your career path.

• Consider global mobility and visa/regulation implications if you’re coming from outside the U.S.