Government PoliciesGovernment-led initiatives in Canada and Australia have created uncertainty, while headlines of student deportations and potential effects of funding cuts could impact demand in the U.S.
International Student DemandU.S. F-1 visas are down 15% year-over-year from October 2024 to May 2025, which would impact revenue from first-year students.
Revenue HeadwindsCollectively, the Big Four education markets are expected to represent a mid- to high-single-digit headwind to revenue growth in 2025.