If they study someplace else then the US loses some competitive advantage of attracting highly educated and motivated individuals into the country where they often stay.
If they simply don’t become as educated then the entire world suffers as the envelop of science and engineering isn’t pushed by as many minds. Having more PhD electrical engineers in the world is a critical piece to having more and better electronics in the world.
https://www.insidehighered.com/quicktakes/2017/10/11/foreign...