Walking through New York’s Washington Square Park in May 2021, New York University graduates were celebrated under the bright spring sky, a scene captured by Alexi Rosenfeld for Getty Images.
Over the years, the U.S. has seen college enrollments among international students limited by strict student visa policies. However, former President Donald Trump proposed a new gold card visa program, which could potentially change the landscape for affluent international students aiming for U.S. college education. This program suggests offering a pathway to permanent residency for a significant price of $5 million.
Although there’s still uncertainty about the specifics of this initiative, experts believe it could provide international students with a fresh avenue toward U.S. citizenship. Christopher Rim, who heads Command Education—a college consulting firm—remarked on the striking volume of inquiries from students in countries like China, Korea, and India soon after Trump mentioned the idea. He noted that these wealthy students now see a viable way to settle in the U.S. after completing their education.
In the realm of personal finance, a few issues have spiced up discussions: President Biden’s now-defunct SAVE plan for student loans, Elon Musk’s intriguing play with DOGE affecting the Education Department, and a worrying $2.7 billion shortfall in Pell Grants that threatens college aid.
Presently, more than 1.1 million international students pursue undergraduate and graduate studies in the U.S., mainly from India and China, constituting just under 6% of the overall higher education student body in the country. This data comes from the Open Doors report by the U.S. Department of State and the Institute of International Education. Robert Franek of The Princeton Review points out that while international students form a small segment, their policies could hold substantial benefits.
Schools like New York University and Columbia University heavily rely on international enrolments as they usually pay the full tuition fees, generating significant revenue. Franek states, “These students are incredibly appealing as they aren’t applying for financial aid,” which is a crucial factor given that over 95% of four-year colleges in the U.S. depend on tuition for funding. In the 2023-24 academic year alone, international students contributed an impressive $43.8 billion to the U.S. economy, according to a report by NAFSA: Association of International Educators.
The introduction of the gold card visa shines a spotlight on the broader issue of college accessibility. James Lewis, who co-founded the National Society of High School Scholars, notes, “While those who can afford it will likely benefit from this, the long-term impact on higher education isn’t clear.” He emphasizes the need for colleges to be accessible to all.
College affordability remains a pressing issue as costs continue to rise. The College Board reports that, for the 2024-25 academic year, four-year private college expenses averaged $58,600, climbing from last year’s $56,390. Similarly, four-year in-state public colleges saw an increase to $24,920 from $24,080. For many families, securing financial aid is essential to managing these costs, especially for those from low-income, first-generation, or minority backgrounds.
