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Barnet Sherman, Professor, Multinational Finance and Trade, Boston University

International students will offer a big boost to the US economy this back-to-school season

Move-in day at the University of Southern California attracts students from around the world. Allen J. Schaben/Los Angeles Times via Getty Images

Of the millions of young adults heading off to college this fall, many will be international students. If trends continue, about 1 million students from around the world will come to the U.S. to pursue higher education this year.

These young scholars make a big economic impact. Altogether, they pump more than US$40 billion into the U.S. economy and support over 368,000 jobs. That’s not just paying professors and buying textbooks – it includes everything from renting apartments to late-night DoorDash and Grubhub deliveries. And it’s near a record high.

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