One of the reasons many foreign grad students come to the US now is because there are so many foreign grad students they can find a community of fellow national

One of the reasons many foreign grad students come to the US now is because there are so many foreign grad students they can find a community of fellow nationals which makes them feel less isolated and helps them in coping with a new culture. As the number of foreign students declines there will be less community which will make coming to the US less desirable. I worked at Dartmouth in CS and most of the grad students were foreign, at first mainly from China, but later many from India also. My understanding is that a big part of the economic hit for universities is the profit from providing housing. If undergrads are not on campus, the profit vanishes. Dartmouth has historically cut staff and expenses rather than use it's endowment to weather crisis. They say it's because much of the endowment is tied to specific purposes, like building new buildings with the donors names affixed there-on. So a big endowment may not be of much value in weathering the current crisis if you can't spend it and your cash flow dries up.