Monday, March 23, 2009

World to US Business Schools: Thanks, but No Thanks

An article posted in Business raises concern for the future of the US Business Schools and the ability of domestic companies to maintain a competitive edge in the global market place. The possible restrictions of H-1B visas and the down turn of our economy are driving potential foreign students to rethink their position regarding attending Business Schools here in the US.

The article states that for years, American business schools have effortlessly attracted a diverse body of international students, eager to come for a top-rate business education and the chance to work in the U.S. after graduation. But diversity at top B-schools across the country may take a hit this year, as a growing number of international students put off plans to attend school or decide to attend schools in their home countries instead. Though it's still too early to tell what the impact will be on next year's class, a growing number of students from China, India, Europe, and the Middle East say they are considering, or have already decided, to decline their acceptance offers to prestigious U.S. business schools.

This trend could further hurt the US economy. While we have a lot of bright and talented young people here in the US the loss of prospective foreign students could seriously impact the future of college programs (loss of income from students attending schools from abroad) and a reduction in the pool of talent for US companies. Some may argue that this will open opportunities for US students to get domestic jobs. While this may be true on a smaller scale I for one am worried that without the diversity of an international student population and workforce the US is headed for an even greater economic down turn. Your comments are welcome.

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