Early federal data show a 19% year‑over‑year drop in international student arrivals in August, pressuring campuses that rely on overseas tuition and graduate enrollments. Institutions from flagship research universities to regional colleges reported sharp declines; some have already cut budgets and frozen hiring in response. UCLA Anderson’s incoming MBA class illustrates the trend: international representation fell to 35% this year, down from 47% two years ago. Admissions leaders cite visa processing delays, increased vetting, and an uncertain U.S. work‑visa outlook as drivers pushing applicants toward Canada, Europe and Asia. Campuses with large graduate and STEM programs warned of near‑term fiscal impacts and longer‑term talent pipeline disruptions: fewer international scholars will dampen research capacity, reduce tuition revenue and complicate workforce plans tied to H‑1B prospects.