Foreign Students Worth $18.8B to USA

The 2009-2010 economic impact statement from international education compiled by the National Association of International Educators (NAFSA) was released last week. The numbers are big. International students are worth a lot to the US economy, $18.8B conservatively using NAFSA's methodology.

Here is how the total breaks down for the current academic year:

• 690,923 international students
• Spent $13.1B on tuition expenses
• Spent $12.5B in living expenses
• Received US student aid of $7.2B
• and spent $448M in dependents living expenses
• NET CONTRIBUTION BY FOREIGN STUDENTS: $18,776,000,000

Facing a budget deficit of $1.42 trillion and a trade deficit of $375B, how soon before the Obama administration opens the education door wide open?