Foreign Students Help US Economy
The Institute of International Education has just confirmed a record number of foregin students studying in American Universities. The total number of U.S. student visa holders for the year 2013-2014 was 886,052. The record numbers of foreign students studying in the US have contributed $26.8 billion to the US economy, and have created or supported 340,000 jobs, according to data from the National Association of International Educators (NAFSA). The primary expenditures that totaled in the billions contributed to the US economy were mainly on accommodation, student fees and living expenses.
The $26.8 billion spent by foreign student visa holders in the U.S. represents over a 12 percent increase on last year. The data also shows an 8.5% increase in job support and creation. This means that for every seven international students enrolled in U.S. universities, there are three U.S. jobs created. The jobs created are in higher education, and also in the accommodation, retail, transport, dining and telecommunications sectors. Several key figures in international education, like the CEO of NAFSA, Marlene Johnson has been quoted with stating “foreign students studying in the US contribute far more than just money.” She said “We cannot underestimate their immeasurable academic and cultural contributions to America’s colleges, universities and local communities.” She added that international students also “bring global perspectives into U.S. classrooms and research labs, and support U.S. innovation through science and engineering coursework.”
The above figures clearly show that the U.S. still has the highest percentage share of foreign students. This is despite the U.S. seeing a decrease in its share from 28% of international students in 2001 to about 19% in 2011. Internationally there has been significant growth in students studying abroad even with a smaller percentage share of the market the U.S. has still seen growth in student numbers. Marlene Johnson continued to state the consequences of inaction in Congress for immigration reform: She said “If Congress doesn’t take action and pass commonsense, comprehensive immigration reform, we will lose talented international students. The billions of dollars they contribute to this nation, along with the invaluable academic and cultural contributions they bring, will be at risk.”
Fortunately, Obama’s immigration reforms via executive action may help the situation. With expansion of the optional practical training scheme for overseas graduates in the U.S., many more students will be able to stay in the U.S. to pursue their education.
Buda Law Group has successfully helped hundreds of international students with their F-1 Student Visa needs. If you have any questions, please contact the team here at Buda Law Group and get a free consultation regarding any of your immigration needs.
John B. Buda, Esq.
1201 W. Huntington Dr. Suite 209
Arcadia, CA 91007