Full-time, in-person MBA programs continue to be a popular choice for graduate studies, but online options have actually grown to enroll more students. During the 2020-2021 academic year, 45,038 students were enrolled in online MBAs programs in the U.S., while 43,740 were enrolled in full-time programs, according to the Association to Advance Collegiate Schools of Business (AACSB).
That shift isn’t surprising given that many business schools both big and small have launched online MBA programs in the past couple of years, including New York University Stern School of Business and the University of Tennessee–Knoxville. Even the Wharton School of the University of Pennsylvania announced its hybrid executive MBA program last year. Joining the litany of business schools starting an online MBA offering is the University of Dubuque, a private school located in its namesake city in Iowa.
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The school announced in early January the inception of its online MBA through a partnership with online education provider upGrad. While some online MBA programs can cost anywhere between $20,000 and more than $100,000, Dubuque is touting a relatively low sticker price. Online MBA students at Dubuque can complete their degree for less than $15,000. Fortune ranks the most affordable online MBA programs—many of which are also in this price range.
“We hope that by delivering an affordable, high-quality, and highly accessible online MBA, we can help rapidly expand our growing Dubuque community to learners across the country and even globally,” Ricardo Cunningham, University of Dubuque’s dean for graduate and adult studies, tells Fortune. “At a total cost of under $15,000, we want aspiring business leaders to be equipped with the knowledge they need to succeed without breaking the bank.”
How the online MBA program works
The MBA program at Dubuque is 100% online and can be completed in as little as 15 months. Courses will have both synchronous (live) and asynchronous content, including weekly live online classes. Students can interact on discussion boards and ask questions of other students, faculty, or teaching assistants.
While some MBA programs offer specializations, Dubuque students will have the opportunity to earn “skills badges” in addition to pursuing a specialization in analytics, finance, marketing, leadership, or general business. Some of the badges include data-driven marketing, financial analytics, marketing leadership, and finance management.
These badges are shareable, meaning they can be attached to résumés or on LinkedIn. Because they’re linked to specific pairings of elective courses and are built into the curriculum, there is no extra cost in pursuing a skills badge, Cunningham says.
“We also understand that if we really want to build a program that puts students first, we need to provide avenues for them to accelerate their careers as fast as possible,” he adds. “Badges give our learners the chance to demonstrate highly in-demand competencies as they learn, making them more valuable to current and potential employers.”
How to apply to the online MBA program
To apply to the 36-credit-hour program, prospective students must have a bachelor’s degree from a regionally accredited university and be able to provide official transcripts. Applicants also need an undergraduate GPA of at least 2.5. There is no fee to apply, and applicants don’t need to submit a GMAT or GRE score.
“We want our graduates to walk away with an education that lives up to our mission by providing them with a program curriculum relevant to today’s workforce that allows them to respond to issues they currently face,” Cunningham says. “We understand that the world is changing, as is the workplace, so we wanted a program that reflects that.”
Check out all of Fortune’s rankings of degree programs, and learn more about specific career paths.
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