Southern U.S. business schools in the top 50 have been hit particularly hard by the international student downturn. The average loss among a dozen schools examined by P&Q is 5.85 percentage points since 2016, and more than 20%, compared to a loss of 4.59 points and 14.2% across the whole top 50. Hit hardest: Vanderbilt Owen, which has see a nearly 35% drop in foreign student enrollment in three years.