Applications to full-time MBA programs at US business schools fell 27% for the incoming class of 2028, with international student demand declining sharply amid uncertainty over the Donald Trump administration's immigration and visa policies, according to a new survey by the Graduate Management Admission Council (GMAC).
International applications across all types of US graduate business programs dropped 38%, compared with a 6% decline in domestic applications.
The fall was not limited to traditional full-time MBA courses. Applications declined across different types of graduate business programs, including online MBA courses, indicating weaker interest among prospective students in studying business in the US.
Several prominent business schools also reported significant drops. Applications to the University of California, Los Angeles (UCLA) Anderson School of Management fell 21%, while Georgetown University's McDonough School of Business recorded a 22% decline. Duke University's Fuqua School of Business also reported a similar overall fall, according to the report.
International applications see steepest decline
{{/usCountry}}International applications see steepest decline
{{/usCountry}}International applicants have become increasingly cautious about pursuing business degrees in the US, with visa restrictions and uncertainty surrounding immigration policies contributing to the decline.
At UCLA Anderson, international applications fell by about 30%, while domestic applications dropped around 10%, Gary Fraser, associate dean of the school's full-time MBA program, told Bloomberg.
According to GMAC, the 38% decline covered international applications across all types of US graduate business programs. The organization could not provide a separate breakdown of domestic and international applications specifically for MBA programs this year.
The decline has also affected incoming class sizes. Indiana University's Kelley School of Business enrolled 57 students in its latest incoming class, compared with 106 in the previous year, a reduction of nearly half.
Business schools struggle to fill seats
The impact has varied across institutions, with declines generally smaller at more selective business schools. Dartmouth's Tuck School of Business increased the share of international students in its incoming class by seven percentage points to 29%. UCLA Anderson also saw its international student share rise slightly to 36%, despite fewer applications from overseas.
At the Massachusetts Institute of Technology's Sloan School of Management, the number of international students increased to 203, representing 65 countries.
Visa hurdles affect international enrolments
Business school officials said some international applicants faced difficulties obtaining student visas even after securing admission. Competition for scholarships also influenced enrolment decisions, with some students choosing institutions offering more generous financial aid.
The decline in US applications contrasts with a relatively smaller 2% fall in applications to European business schools, according to GMAC.
The figures highlight the growing challenges facing US business schools in attracting international students.