You Can Now Take An Entire MBA Course Online For Free!

The University of Illinois’ College of Business at Urbana-Champaign has put the entire MBA curriculum of a new and innovative program online for free. The school says the actual degree would cost about $20,000, but that’s only if you want the certificate. Otherwise, you can take the complete course at no cost whatsoever.

The University of Illinois at Urbana Champaign’s College of Business has rolled out a new MBA program, dubbed the iMBA, through online education platform Coursera.

This is the first time a business school has put an entire MBA curriculum online for free. Students only pay if they want a certificate for completing a course or a sequence of courses for college credit ($1,000 per course or $3,000 for the specialization) or the actual MBA degree (which will end up costing roughly $20,000). 

As many as 180 business schools already offer online MBA degrees, including seven whose residential MBA programs rank among the Top 50 and at least another 14 from schools that rank in the second half of the Top 100 programs.

At roughly $20,000, it is the most affordable online MBA from a top business school in the U.S. and less than half the price of the school’s residential MBA program for in-state students.

But what will set the iMBA at Illinois apart from those offerings is cost. At roughly $20,000, it is the most affordable online MBA from any top business school in the U.S. and less than half the price of the school’s residential MBA program for in-state students. Illinois administrators say the low price tag is “one-third the cost of online MBAs from institutions of similar stature to the University of Illinois.”

Online MBA programs at established business schools, such as those offered by the Tepper School of Business, Kenan-Flagler Business School, and Olin Graduate School of Business, charge students anywhere from $78,200 to $108,080 for a full MBA. And other schools that have jumped into online business education, such as Harvard Business School, have shared only a sliver of the courses the University of Illinois will release on Coursera. 

Price aside, Coursera says the iMBA program is unique because it will let students “stack” credentials, meaning they can pile on courses in certain skills that may help them advance in their careers or even find new jobs. 

“It’s a completely innovative way of aggregating credentials, which really allows people to consume what they want, when they want it,” says Daphne Koller, president of Coursera. “If you want to learn digital marketing, you can sign up for that specialization; if you want to learn about business negotiation, you can do that; and if you want the full MBA, you’re on the path for that as well.”

The iMBA programme is now live on Coursera and applications are open till September 2015.

Admission to the iMBA degree program requires a Bachelor’s degree or equivalent and “strong candidates” are expected to have three or more years of professional experience in business operations or management. Completing one or more of the Coursera Specializations prior to applying to the full degree program is an added advantage and reccomended. Although no GMAT or GRE score is required to apply, both are recommended. Additional application requirements include a personal statement, letters of recommendation, and proof of English language proficiency

The market for online business school education is getting crowded and reports suggest the online learning wave could wipe out half of U.S business schools by 2020. (Image courtesy Sierraclub)

Summary

Article Name

You Can Now Take An Entire MBA Course Online For Free!

Description

The University of Illinois’ College of Business at Urbana-Champaign has put the entire MBA curriculum of a new and innovative program online for free. The school says the actual degree would cost about $20,000, but that’s only if you want the certificate. Otherwise, you can take the complete course at no cost whatsoever.

Author

Shikhar Mohan

Publisher Name

One Year MBA

Publisher Logo