Korean international students are facing a double blow.
Concerns are mounting among Korean international students amid a series of setbacks, including President-elect Donald Trump’s announcement of stricter immigration policies and South Korea’s recent declaration of martial law, which triggered a sharp rise in exchange rates. The fallout is expected to include shorter student visa validity, delays in visa issuance, and higher tuition costs due to fluctuating exchange rates.
On December 3, South Korean President Yoon Suk Yeol declared martial law, causing the won-to-dollar exchange rate to spike to 1,446.5 won at one point during trading, the highest in 15 years and 8 months.
Since then, the rate has remained above 1,410 won. Korean international students are highly sensitive to fluctuations in exchange rates as most of them pay their tuition through parents residing in South Korea. Even slight changes in the exchange rate can result in millions of won in additional costs, as tuition fees involve large sums of money in the tens of thousands of dollars.
For instance, the basic tuition of the University of Southern California (USC) for undergraduate students for the 2024-25 Spring semester, including tuition fees, transportation costs, and student fees, amounts to $35,529. If a parent in Korea paid the tuition for their child on November 27, before the martial law declaration, they would have paid 49,136,607 won at the exchange rate of 1,393 won.
However, if the tuition was paid on December 10, after the martial law declaration, they would have paid 50,991,220.8 won at the rate of 1,435.20 won. This means that, in just two weeks, the fluctuation in the exchange rate led to a difference of nearly 2 million won for the same tuition payment.
Kiho Hong, a freshman sociology student at USC, stated, “The rise in exchange rates is a significant burden on my parents,” adding, “Most international students receive tuition, rent, and living expenses in dollars from their parents.” He also shared, “Since my older brother is also currently studying in the U.S., I feel even more sorry for our parents, as the burden on them seems to be growing.”
In addition to exchange rate issues, international students are also worried about the stricter immigration policies that have been announced for Trump’s second administration.
In response, top universities such as the University of Michigan, Cornell University, Yale University, MIT, University of Massachusetts, and USC have advised international students to refrain from traveling abroad during the winter break or to return to the U.S. before Trump’s inauguration.
On November 27, the University of Michigan’s International Center sent an email to students, offering guidance on visa renewals, overseas travel plans, and other matters to be aware of as Trump’s second administration approaches. The email also noted the possibility of changes to student visa validity and other conditions due to potential adjustments in immigration policies under the new administration.
Seungmin Shin, a junior statistics student at the University of Michigan, said, “I recently met with my school advisor, and they strongly advised me to return to campus before Trump’s inauguration.” He added, “The school seems very concerned about the situation for international students.”
On December 3, USC also issued a recommendation for students traveling abroad during the winter break, urging them to return to campus before the start of the semester on January 13. Furthermore, students were advised to actively seek legal support from the law school clinic in case they are detained at Los Angeles International Airport (LAX).
Sam Jeon, a graduate student at USC, shared, “Many international students were caught off guard when the school sent out the early return advisory.” He added, “The student message board is now filled with posts expressing concerns and frustrations about Trump’s second-term policies.”
