Spending by foreign students in the United States dropped sharply over the 12 months through September, declining 5.3%.

That fall, amounting to roughly a $3 billion drop at a seasonally adjusted annual rate, is the steepest on record outside of the COVID-19 pandemic years.

The decline comes in the wake of tightened visa rules under the current US administration, which has also triggered a steep drop in international student enrolment for the 2025 fall semester.

Overall foreign spending in the US, which includes not just student expenses but also travel, medical, and other outlays by foreigners, sank 7.6%, a decline of about $16.6 billion from the previous year.

Observers say the sharp reduction in spending by international students underscores how restrictive visa policies are reshapin

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