ApplyBoard Trends: Students Reassess ROI as Job Markets Tighten

(CANADA) International Students are rethinking where to study and how much to spend as job markets tighten across many of the world’s Top Study Destinations, according to new data from Canadian education company ApplyBoard. The trends report, released for Fall 2025, shows students weighing return on investment (ROI) far more carefully as governments in Canada 🇨🇦, Australia, the United Kingdom, and the United States 🇺🇸 reshape student visa and work rules.

Shifts in the “Big Four” destinations

The report finds that traditional destinations are no longer automatic first choices.

• Canada: Once one of the fastest-growing hubs for foreign students, Canada is on track to approve only about 140,000 new study visas in 2025, the lowest total among the “Big Four” (US, Canada, UK, Australia). That sharp drop follows policy moves in Ottawa — including caps on new study permits and stricter checks on colleges and private institutions. Official details on Canada’s study permit rules are available at canada.ca.

• United Kingdom: Visa volumes are holding steadier for now. ApplyBoard projects around 400,000 main applicants will receive UK study visas in 2025, roughly matching 2024 levels. However, proposals in the 2025 White Paper on Immigration and tougher screening could reduce demand later in the year. Institutions are preparing for slower growth and more family questions about long-term work prospects.

• Australia: Formerly growing quickly from South Asia and China, Australia now faces pressure as post-study work rights tighten and fees rise. Students are increasingly focused on whether degrees will pay off.

• United States: Concerns about policy moves (downsizing of the Department of Education, cancellation of hundreds of student visas earlier in 2025, and a temporary pause in new visa interviews through May and June) have raised questions about predictability and welcome. Still, the US scores highly on ROI perceptions — 77% of respondents agreed or strongly agreed that international students in the US are successful and find good jobs, placing the US third among six major destinations on this measure.

A new priority: ROI over prestige

ApplyBoard’s findings indicate a clear reset in how students choose destinations. Instead of chasing prestige alone, most now use three main tests:

1. Quality of education
2. Overall affordability
3. Clear career paths after graduation

Advisors describe students as “career‑oriented and skills‑focused,” increasingly choosing programs with strong links to real jobs. This drives steady demand in:

• Technology: artificial intelligence, cybersecurity, data science
• Health care
• Sustainability programs that promise long-term employment

Financial pressure and changed expectations

Tuition and living costs have climbed sharply in many cities, while some post-graduation work visas have become shorter or more restricted. Students and families often face tougher trade-offs:

• Borrowing more or selling assets to fund study abroad
• Treating international education as a business decision that must show clear ROI — i.e., good jobs and stable immigration paths

Perception matters almost as much as policy. ApplyBoard’s survey shows a rising share of respondents who strongly disagree that major destinations are “open, safe, and welcoming.” That negative view grew for all six destinations examined from Spring 2025 to Fall 2025, and the rate of strong disagreement nearly doubled compared with earlier surveys.

Students and parents are reacting to media stories about:

• Visa cancellations
• Protests and political debates over migration
• High-profile cases of student exploitation

Advisors note these stories spread fast through social media and messaging apps in sending countries.

Rising alternatives and region-by-region trends

As top markets cool, alternative destinations in Europe and the Asia‑Pacific are gaining ground.

• Europe:
  • Germany, France, Finland are highlighted as rising choices thanks to lower tuition, expanding English-language programs, and work rights that often extend beyond graduation.
  • France has climbed to second place among alternative destinations tracked by ApplyBoard, aided by new scholarship schemes and active recruiting in Africa and South Asia.
• New Zealand:
  • Although smaller in absolute numbers, interest nearly doubled between Spring and Fall 2025, with 21% citing lifestyle, scenery, and flexible study options. Some families who once aimed for Australia are now considering New Zealand as a quieter alternative with reasonable post-study work rules.
• Asia:
  • Countries such as India, China, and Saudi Arabia are transitioning from mainly “sending markets” to serious hosts. Governments are investing in local universities, launching English-language programs, and building student-friendly visa schemes that sometimes include scholarships and housing support. These policies aim to retain local talent and attract regional students.

According to analysis by VisaVerge.com, this wider set of options is forcing universities to be much clearer about how each program connects to specific jobs and salary ranges, and to publish graduate employment data wherever possible.

Institutional responses and market consequences

Schools — especially in mid-size cities and smaller provinces — are working harder to explain ROI, including how co-op programs and local employer ties can lead to full-time roles. Institutions and governments that fail to show clear, stable ROI risk losing students to newer, more flexible rivals.

Key effects include:

• More questions from families about long-term work chances
• Greater emphasis on programs with direct career linkages
• Increased recruitment and scholarship efforts in non-traditional markets

Key quote

“Students remain eager to pursue international education, but they’re becoming more strategic in their choices.”
— Meti Basiri, Co‑Founder and CEO of ApplyBoard

This comment captures a sector in the middle of a major reset: emotion and ambition remain strong, but careful calculation now plays a bigger role than ever before. Institutions and governments that demonstrate clear pathways to employment and predictable post-graduation rights will be better positioned to attract the next generation of globally minded students.

Quick country comparison (high-level)

Takeaways and warnings

• Students increasingly treat study abroad as a financial and career investment.
• Policy changes and negative perceptions can quickly reshape demand.
• Universities must present clear, verifiable links between programs and job outcomes to remain competitive.
• Alternative destinations are benefitting from affordability, expanding English-language offerings, and more favorable post-study rules.

Highlight: Institutions and governments that fail to show clear, stable ROI risk losing a generation of globally minded students to more flexible and better-communicated alternatives.