Deans at U.S. graduate business schools are reporting a sharp fall in international enrollment and expect the decline to persist, according to the Eduvantis Fall 2025 Business School Deans Survey. Two‑thirds of the 52 deans surveyed said international enrollment this fall fell short of projections and nearly 80% are moderately to extremely concerned about prospects for spring 2026. Respondents cited visa delays, questions about U.S. competitiveness and more attractive alternatives abroad as the principal drivers. The survey provides class‑profile data showing material drops in international shares at top programs such as Wharton, Duke Fuqua and UCLA Anderson. For business schools, the shift threatens tuition revenue, class diversity and recruitment pipelines; deans reported active strategic responses including recruitment pivots, program adjustments and contingency planning.