Indian applications to US business schools fell 45% in August 2025 , the GMAC 2026 Geographic Mobility report shows. The report, based on data from 828 US institutions , says overall new international enrollment in US higher education fell 19% in the same period.
Indian MBA applicants US decline 2025 — scale and immediate impact
Two-thirds of business school programmes in the Americas reported international enrollment declines for Fall 2025, and 26% of those programmes recorded drops of 15% or more . Nearly 90% of Americas schools identified Indian students as the largest admitted‑versus‑enrolled gap. Those gaps translated into urgent operational changes at some campuses.
Indian MBA applicants US decline 2025 — visa policy and candidate sentiment
The GMAC data links the decline to policy and visa measures after the change in US administration in January 2025 . The US temporarily suspended student visa interviews in May 2025 . F-1 visa issuances to Indian students fell 69% in peak summer months, and about 8,000 student visas were revoked nationally.
By December 2025 , 40% of non‑US graduate management candidates said they were less likely to study in the US. Central and South Asian candidates — the region that includes India — lowered their plans to apply to US programmes by 21 percentage points during 2025.
Where applicants redirected applications and what students cited as barriers
Western Europe overtook the US as the top preferred destination; US preference among non‑US candidates fell from 57% to 42% in 2025. Application plans from Indian and Central/South Asian candidates grew for Western Europe, East/Southeast Asia and regional programmes. Plans to apply to Central and South Asian programmes doubled from Q1 to Q4 2025, and interest in the Middle East rose from 2% to 9% .
Indian candidates named cost of the programme ( 45% ), lack of financial aid ( 30% ) and not getting into their preferred school ( 29% ) as the top barriers. The report also notes that Indian applicants strongly prefer full‑time, in‑person programmes.
Admissions and funding changes at US schools
Enrollment pressure has opened merit‑aid windows at some US programmes. GMAC cites examples where universities, including Carnegie Mellon , have offered merit aid to competitive international applicants. The report highlights GRE scores above 320 as a factor some schools consider for merit awards.
The GMAC 2026 report does not predict a quick reversal. For students targeting a September 2026 start, the report reiterates university and visa timelines: submit student visa applications well before the recommended June 2026 deadline. The data signals a structural shift in where Indian management candidates plan to study, driven by visa uncertainty, cost and changing destination preferences.
Source: GMAC 2026 Geographic Mobility report (February 2026).