The Economic Impact of Pushing International Students Out of the US
The United States is the best choice for students from all over the world, and all of these students have over-performed in their field by utilizing the educational facilities in institutions in the United States. After completing their education, they can apply for job opportunities in the US and contribute to the economy with efficiency. Immigrant students founded around 40% of Fortune 500 companies, producing around 11 million jobs in the last financial year. Also, there is the fact that 30% of noble laureates are immigrants in the United States.
But in recent times, we see that there is a decline in student enrolment all over the country. According to the US education department, around 1.1 million students are enrolled in the 2019-2020 school year and it shows that there is a decrease of 20,000 immigrant students compared to last year. Several factors are there, like the recent cost of education hike, visa denials, and delays, the Trump administration policy on immigration, and the latest political environment. But the pandemic is the main reason for this and it increases the shortage of students. Due to COVID-19, the closure of the US embassy, restrictions on traffic, and all these things make students puzzled.
And lastly, the Trump administration put restrictions on international students entering the country because of the deadly virus and stated that they could take admitted if the university provides online education, but this order was withdrawn quickly. As a result, there is a lot of confusion between students and their families and in the year 2020, the total number of students enrolled in the college is 16% less than the previous year.
This means losing skilled and talented people, and their contributions have a huge impact on the US economy. According to the data from the US Department of Commerce, overseas students contributed $44.7 billion to the US economy. We have mentioned the extensive impacts below:
• Economic impact:
According to NAFSA data, international students contributed $36.6 billion and 4.5 lakh jobs to the US economy during the 2016–17 fiscal year. So, you can imagine today how much its contributions affect the economy. In recent times, a huge number of posts are still vacant because of a shortage of talented people and workers. So, to ensure productivity, choose efficient and skilled employees. International students are the best option for you to fill this vacant post, as these talented people will bring immense changes to your wealth creation.
• The advantage of diversity:
Today, the vast majority of US students (83%) work with various groups online after graduating. According to the leading Ed-Tech firm of India Jaro Education, if our students had not studied with various students from different countries, then they wouldn’t have competed in the global diversifying economy. So, they should study with overseas students to learn about their culture and traditions, issues in their country, different food types, the best places to visit in their country and the environment in their country. This knowledge makes them good listeners and rational thinkers. And they learn good communication skills, which help them make new friends and connections in their respective fields. As a result, they can work with full efficiency when working with global teams.
Advantages of good institutions:
International students enrolled in institutions with higher tuition fees than domestic students. students contribute a considerable amount of revenue, and universities use this revenue on research and better facilities in their institutions. And if the government cuts funding for these programs, then they can use this to provide better facilities and support to domestic students. Moreover, due to fake news about online educational institutions such as Jaro Education fake (India’s most trusted higher education firm) news students are afraid of taking admissions. According to National Centre for Education and Statistics data, college graduates all over the country are projected to grow at a rate of 0.2% in the next nine years, compared with the previous nine years when the growth rate was 6%. So overseas students not only generate revenue but also fill our classroom.
- Student data from various countries:
According to IIE data, the largest number of students came from China (i.e., 35%), and the second country in terms of percentage is India, which is 18%, followed by South Korea, which is 5%, and next is Saudi Arabia, which is 3% in Financial Year 2019-20. If we compare it with the previous year, then you can see there is a significant growth in Chinese students. But other countries have negative growth compared with the previous year.
- Inclusions in the US labor force:
They are willing to work in the country after completing their graduation or post-graduation. According to the Brooking Institution, 45% of international students who extended their visas to work in the United States after getting better opportunities The yearly rate of working students is increasing rapidly, and it makes the labor force more diversified.
And that’s why many economists and educationalists oppose the Trump Administration’s move and demand a rollback of this decision.