Uh oh. This morning, Axios reports and I quote:
“A U.S. college education, once a status symbol for Chinese families, appears to be losing its appeal as many consider alternative destinations, experts tell Axios.
Why it matters: China has been the top country of origin for international students in the U.S. for more than a decade, making it a key source of revenue for many American universities and colleges.
Chinese students contributed nearly $15 billion to the U.S. economy in 2018, according to the U.S. Department of Commerce. Many U.S. schools, especially large public universities, have become increasingly dependent on Chinese students, most of whom pay full tuition.
Three Chinese students who spoke to Axios spent on average more than $100,000 a year studying in the U.S. That figure includes tuition, room and board, and living expenses.
People have been warning universities for years about a financial over-reliance on one country. Not many have seemed to do a whole lot about it."
"In 2017, the University of Illinois at Urbana-Champaign took out an insurance policy to cover the $60 million in tuition that Chinese students paid to the university, in case an unforeseen event precipitated a sudden drop in Chinese student enrollment.”
https://www.axios.com/2020/08/18/university-illinois-chinese-students
