Episode Details

International graduate enrollment at U.S. colleges fell again this year, and the financial damage is showing up fast in layoffs, budget deficits, and shuttered degree programs.

For years, foreign graduate students were a quiet engine of university finances: paying full tuition, staffing research labs, and filling master's programs that schools built out to grow revenue. Now that engine is stalling.

Tighter visa policies, thousands of revoked visas, and growing uncertainty about studying in the U.S. have cut into the pipeline, and the institutions that bet most heavily on international enrollment are the ones now scrambling to close the gap.