I’m Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at foreign college students. Mike, anyone attending a college graduation ceremony this year will likely see many foreign students attending. This appears to be a change from what I remember of my college graduation many – I won’t say how many – decades ago. Are we seeing more foreign born students attend US colleges and universities?
- Yes, we are, and the big change is Chinese students
- In 2000, barely any Chinese students came to the US to study
- Now, about 350,000 do every year, and the number is rising by about 25,000 each year
- Two benefits for the US- the foreign students pay the full costs, and they can acquire a better understanding of our country – which hopefully will be beneficial for US-Chinese relations
- For the Chinese – they acquire an education at top universities in the world; are also exposed to US culture
- As the Chinese economy has expanded, more of their US college grads return to China – now estimated 80% return