Business school demand is shifting, with multiple signals pointing to structural pressure on U.S. MBA enrollment even as global applications grow. One analysis flags increasing concerns about ROI and immigration constraints, citing falling H-1B registrations from USCIS and a decline in newly enrolled international students in U.S. colleges and universities. It contrasts global growth in graduate management education applications with U.S. declines, especially among programs dependent on international enrollment. Separate survey results from Concordia University, St. Paul, suggest a “waiting tax” for MBA prospects who delay enrollment, with many respondents reporting lost earnings or slower career progression. Together, the reporting underscores how near-term affordability concerns and immigration uncertainty are reshaping recruiting messaging, enrollment timelines, and student outcomes expectations for MBA programs.