Washington, D.C. — NAFSA: Association of International Educators, in partnership with JB International, announced new data today that show that international students at U.S. colleges and universities contributed $42.9 billion to the U.S. economy and supported more than 355,000 jobs during the last academic year (2024-25). This represents a 2 percent decline compared to the record-setting economic spending seen during the 2023-24 academic year and the first time a decrease has been recorded since the impacts of the COVID-19 pandemic, though the annual growth rate started to taper last year.
Turning to this academic year, NAFSA and JB International estimate that international students’ economic contributions to U.S. economies this fall dropped by $1.1 billion, costing the U.S. nearly 23,000 jobs. This is based on the Fall 2025 International Student Enrollment Snapshot published by the Institute of International Education (IIE) which revealed a 17 percent decline in new international student enrollments. Factors driving the fall 2025 enrollment decline as well as policy solutions—including improving visa processing, preserving Duration of Status, and protecting Optional Practical Training—are identified in the Fall 2025 International Student Enrollment Snapshot and Economic Impact report.
“A close read of enrollment figures from last year and this fall shows that the pipeline of global talent in the United States is in a precarious position,” said Fanta Aw, NAFSA executive director and CEO. “If you exclude those international students who were engaged in post-graduation Optional Practical Training last year—which, at 25 percent, is the largest share of total enrollment ever—and this fall, there are alarming declines that we ignore at our own peril. Other countries are creating effective incentives to capitalize on our mistakes. The United States must adopt more proactive policies to attract and retain the world’s best and brightest and recognize that post-study work opportunities are essential to our standing as the top destination for global talent. Otherwise, international students will increasingly choose to go elsewhere—to the detriment of our economy, excellence in research and innovation, and global competitiveness and engagement.”
Additional key findings from NAFSA’s economic research include:
- For every three international students, one U.S. job is created/supported in sectors including higher education, accommodation, dining, retail, transportation, telecommunications, and health insurance. This figure remains the same compared to last year’s analysis.
- Economic contributions by international students at community colleges increased for the third year in a row. Their activity was measured at $2.2 billion (up 10.5 percent, significantly less than last year’s growth of 33 percent) and they supported more than 9,000 jobs (an increase of 7.4 percent compared to 28 percent last year).
- The economic contributions of international students enrolled in U.S. college and university English language programs (ELP) also increased 5.7 percent to $393.3 million but remain 44 percent below their pre-pandemic levels.
- The five states that saw the largest amount of economic activity were (in descending order): California, New York, Massachusetts, Texas, and Illinois—the same top five as the last two years.
Year-over-year trends and detailed job sector analysis as well as data by state and congressional district for the 2024-2025 academic year is available to view at nafsa.org/economicvalue.
NAFSA’s analysis, conducted by JB International, uses data from the following sources: enrollment data from the 2025 Open Doors report in partnership with the U.S. Department of State’s Bureau of Educational and Cultural Affairs; tuition and expense data from the U.S. Department of Education’s National Center of Educational Statistics plus Petersons Data and the Common Data Set; and job creation data from the U.S. Department of Commerce’s International Trade Administration and Bureau of Economic Analysis.
About NAFSA: Association of International Educators
NAFSA: Association of International Educators is the world's largest and most comprehensive nonprofit association dedicated to international education and exchange. NAFSA promotes policies that ensure the continued growth and impact of global learning, cultural exchange, and mutual understanding through study abroad, international student services, and campus internationalization. With a network of over 10,000 professionals in the field at more than 3,500 institutions in 150+ countries, NAFSA is committed to fostering a more globally connected and peaceful world.