The University of Colorado system enrolled 17.8% fewer international students this fall, including a 22.5% decline among international graduate students, accounting for nearly two-thirds of the system’s overall enrollment decline. The CU numbers offer an early institutional example of a national problem NAFSA has been warning about: visa bottlenecks, declining applications and tighter immigration rules could leave U.S. colleges with as many as 111,000 fewer international students this fall. NAFSA estimates that decline could remove $3.4 billion from the U.S. economy and nearly 40,000 jobs, because international enrollment supports tuition revenue as well as housing, retail and local employment. That makes the international-student slowdown more than an admissions problem; universities that have built budgets around full-pay international enrollment may increasingly have to absorb immigration policy as a financial constraint. The University of Colorado published its preliminary fall enrollment figures here, while NAFSA estimates the broader national exposure here.