Lisle, Illinois ~ What would you pay for an M.B.A. degree? $40,000? $60,000? $80,000?
Although studies indicate that most graduates feel earning a Master of Business Administration (M.B.A.) is worth the investment – according to the U.S. Census Bureau, adults with a graduate degree earn about $400,000 more during their lifetime than those with a bachelor’s degree – the average cost of an M.B.A. degree is somewhere between $80,000 and $130,000.*
The high cost of earning an M.B.A. has contributed to student loan debt that has reached $1.2 trillion. This prompted President Barack Obama to call on Congress to advance new reforms to give more hard working students a fair shot at pursuing higher education, while emphasizing that the federal government, states, colleges and universities all have a role to play in making higher education more affordable. In addition, nationwide there is a need for M.B.A. students who can solve ethical issues in the workplace, demonstrate empathy in business practices and possess a high level of emotional intelligence.
Benedictine University, an accredited, nonprofit private Catholic institution that has been providing graduate business programs to adults for more than 50 years, believes that a quality education and an advanced degree should be both accessible and affordable for all.
To respond to the need for more affordable education and to honor the Benedictine promise of creating values-based business leaders, Benedictine University’s new National Moser Center for Adult Learning is piloting its Next Generation Learning M.B.A. program to experienced business professionals in underserved populations in the Central Illinois and Southwest Arizona regions for just $10,000 – an unprecedented higher education pricing strategy.
Next Generation Learning is creating a disruptive change in the traditional approach to teaching/lecturing. At the core of this approach is problem-based learning – encouraging students to work on "real-life" problems and issues. The coursework is collaborative, group-based and utilizes highly interactive technology that allows for 24/7 remote learning, which increases student engagement.
These seemingly opposing forces (independent digital learning and collaborative engaging technology), operate in concert with each other to facilitate critical-thinking and problem-solving.
“Mesa invited us to come to their community to be an education leader, and we believe in being good neighbors and giving back,” said Benedictine University at Mesa President Mick Carroll, Ph.D. “This is the Benedictine promise. It is what the Benedictine values of hospitality and community are all about. “When we see a need, we want to try to fill it with Benedictine character and ethics,” Carroll added.
Last December, the Arizona State Board for Private Postsecondary Education granted a license to offer an M.B.A. program in Mesa to Benedictine, which has been named the fastest-growing university in the country by The Chronicle of Higher Education and among 10 universities in the nation on the cutting edge of tech for 2013 by education and technology blog edcetera.
Experienced business professionals who enroll in the two-year, $10,000 M.B.A. program will receive the same high quality program and follow the same curriculum that is offered at the University’s main campus in Lisle, Illinois, but in an updated blended format featuring Next Generation Learning. Classes begin this spring.
The Benedictine M.B.A. program has been preparing students for executive and managerial positions in both the private and public sectors for more than 35 years. The program has more than 5,000 alumni and was ranked the fifth-largest M.B.A. program in the Chicago area in 2013 by Crain’s Chicago Business.
“We don’t have to answer to stockholders, so our costs are based on how efficiently we can run our programs,” Carroll said. “We have been offering an M.B.A. program for many years and have a history of making education affordable. Through the new National Moser Center for Adult Learning, we can offer this outstanding program at an affordable price.”
Benedictine has a history of bringing affordable education programs to the communities it serves. Following the tragedy of 9/11, Benedictine began offering free tuition to first responders to give them an opportunity for a career once they left public service. When the country’s financial crisis was at its peak in 2008, Benedictine was one of only a handful of universities nationwide to freeze tuition for all its students. The University has also offered tuition breaks and financial assistance to students whose parents were hit hard by the financial crisis, and created the “Illinois Back to Work” program in 2011 to help people get a better education that would increase their job options.
“We don’t do things for the sake of doing them,” said Benedictine University at Springfield President Michael D. Bromberg. “We do them to help the community and make a positive impact. We hope this program helps people throughout Central Illinois, including the communities of Springfield, Champaign, Peoria, Bloomington and Alton.”
For more information about Benedictine’s $10K M.B.A. program, contact the National Moser Center for Adult Learning at (630) 829-2277, 10Kmba@ben.edu or visit ben.edu/10Kmba.
* – according to www.mba360.com.
Benedictine University at Mesa is a branch campus of Benedictine University, an independent Roman Catholic institution located in Lisle, Illinois, just 25 miles west of Chicago. Founded in 1887, Benedictine is ranked No. 1 among the country’s fastest-growing campuses between 2000-2010 in The Chronicle of Higher Education’s list of private nonprofit research institutions, and Forbes magazine named Benedictine among “America’s Top Colleges” for the third consecutive year in 2013. Education and technology blog edcetera named Benedictine University at Mesa among 10 universities in the nation on the cutting edge of tech for 2013.