Applications to full-time MBA programs at US business schools fell 27% for the incoming class of 2028, with international student demand declining sharply amid uncertainty over the Donald Trump administration’s immigration and visa policies, according to a new survey by the Graduate Management Admission Council (GMAC).
Several prominent business schools also reported significant drops. Duke University’s Fuqua School of Business also reported a similar overall fall, according to the report. The decline has also affected incoming class sizes. The impact has varied across institutions, with declines generally smaller at more selective business schools. Competition for scholarships also influenced enrolment decisions, with some students choosing institutions offering more generous financial aid.
Applications to the University of California, Los Angeles (UCLA) Anderson School of Management fell 21%, while Georgetown University’s McDonough School of Business recorded a 22% decline. At UCLA Anderson, international applications fell by about 30%, while domestic applications dropped around 10%, Gary Fraser, associate dean of the school’s full-time MBA program, told Bloomberg. Indiana University’s Kelley School of Business enrolled 57 students in its latest incoming class, compared with 106 in the previous year, a reduction of nearly half. Dartmouth’s Tuck School of Business increased the share of international students in its incoming class by seven percentage points to 29%. UCLA Anderson also saw its international student share rise slightly to 36%, despite fewer applications from overseas. At the Massachusetts Institute of Technology ‘s Sloan School of Management, the number of international students increased to 203, representing 65 countries.
Business school officials said some international applicants faced difficulties obtaining student visas even after securing admission.
