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Find an MBA Program That Teaches Real-World Skills

Great MBA programs pair exposure to cutting-edge business research with an overarching commitment to professional development, and the primary mission of these programs is to prepare students for the world of work. For years, business executives and professors have called for reform in MBA programs, asking them to emphasize the core competencies of business, such as crisis management and the art of the sales pitch.

These people skills, they argue, are often neglected by MBA programs that specialize in quantitative skills.

Here are seven tips to find an MBA program that boosts your leadership abilities.

[Find out how to build business school skills without pursuing an MBA.]

1.Target MBA programs that balance theory with practice: Johan Roos, chief academic officer and professor at the Hult International Business School in London, says some business schools are so research-oriented that they neglect to teach students business fundamentals, such as decision-making skills.

“Research experience is a great way to see beyond the surface, but nothing beats having struggled with everyday dilemmas in organizations,” says Roos. “Too few professors have the kind of professional experience that other professions would require for someone to give advice to practitioners.”

2. Vet business schools based on the real-world relevance of their research: Not all business school research is created equal, according to critics of business schools. Some argue that business school research often focuses on topics with little relevance to the practice of business.

But many business professors say the best business research is eminently practical and that it gives businesses the science necessary to make smart decisions in real time. Look for business research that offers guidance on how to navigate the business world..

[Understand how to be a team player in business school.]

3. Choose a school that teaches rhetorical skills: Peter Rodriguez, dean of Rice University’s Jones Graduate School of Business, says prospective MBAs should seek schools that teach not only how to formulate and recognize great business ideas but also to communicate those ideas to colleagues who lack formal business training.

“Any good leader has to be a good storyteller too,” he says. Rodriguez adds that, in consensus-driven organizations, the ability to rally support for ideas is critical to success.

4. Decide whether case studies or lectures will be most helpful in your education: Rick Grenis, a senior financial analyst and 2016 graduate of the University of Virginia’s Darden School of Business, says there are two distinct forms of business school teaching styles: one that emphasizes the value of lectures, and another that teaches using professor-led discussions of real-life business dilemmas known as case studies.

For Grenis, who has a bachelor’s degree in philosophy, the case-method style of teaching at Darden showed him how to be a more pragmatic decision maker, he says. Now, Grenis says, when faced with a dilemma at work, he relies on the problem-solving skills he developed at Darden. He acknowledges, however, that the case method is not a good fit for everyone’s learning style and that lectures may be a better way to learn about abstract concepts.

[Think about which business school teaching style works best for you.]

5. Figure out which programs provide the training you need for your dream job: Michelle Crawford, a startup CEO and a 2014 MBA graduate from the College of Business at Florida State University, says her objective in business school was to get first-rate training in entrepreneurship.

“I was looking for a real cross-disciplinary approach,” she says. Crawford says entrepreneurs considering MBA programs should know they will need to learn a wide range of skills, including fundamentals like accounting and marketing and soft skills like eloquence and resilience.

6. Look for a program that teaches how to predict the consequences of business decisions: Crawford says one of the most rewarding lessons she learned in business school were the courses she took in a business simulation lab that allowed her to forecast the effect decisions in one sector of a company would have on the rest of the company, and ultimately, on the bottom line.

7. Focus on schools where you can learn from experience: Crawford says pitch competitions at Florida State helped her hone the pitching method she now uses with venture capitalists and potential investors, and that a good business school is one that gives students practical experience.

Searching for a business school? Get our complete rankings of Best Business Schools.

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Find an MBA Program That Teaches Real-World Skills originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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