International students studying at American colleges and universities have kicked up the U.S. economy, according to a recent report released by the Institute of International Education. The net contribution to the U.S. economy by international students during the 2006-2007 academic year was nearly $14.5 billion. That’s $1 billion more than the 2005-2006 school year and is the largest annual increase of its kind ever.

The report indicates that foreign students studying in the U.S. consider the education they receive an American product. International students spent more than $20 billion on U.S. tuition, fees and living expenses in the 2006-2007 academic year. Less than a third of these students received major U.S. funding, as many international students opted for expensive programs that do not award scholarships.

–Sara Elizabeth Savage

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