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10 Things to Expect in an Online MBA Program

By U.S. News & World Report

Discover What Online Learning Entails

Prospective students aiming to change careers or move into a leadership role at a company might consider an online MBA for its flexibility. Business remains the most popular graduate discipline among online students, according to a 2016 survey by Aslanian Market Research and the Learning House.

Here are 10 things you are likely to encounter in an online MBA program.

1. Classmates From Various Industries

Because online MBA students often have diverse career goals, they typically come from many different industries — including business but also ranging from health care to medicine. That professional diversity can teach students to solve business problem in unique ways, Matt Bullion, an online MBA student at the Pepperdine University Graziadio School of Business, told U.S. News.

“Myself as a sales and marketing guy — I may have one way of approaching a problem,” he says. “But a medical doctor might come at it from a completely different perspective.”

2. Experienced Peers

On average, online MBA students in programs ranked by U.S. News have eight years of prior work experience, according to U.S. News data. That figure was lower for full-time MBA students who started in fall 2016, at four years.

“It is invaluable, especially when we do a lot of group work in these sessions, that the more experience you have, the more real life examples you can bring,” Monika Chandra, an online MBA student at the University of Maryland Smith School of Business, told U.S. News.

3. Broad Networking Opportunities

Those who pursue an MBA online often live and work across the country and worldwide, providing classmates with virtual and sometimes in-person networking opportunities on a national or international level. That’s different from on-ground MBA students, who typically live locally, experts say.

Nick Alaga, a California-based student in the online MBA program at the Syracuse University Whitman School of Management, told U.S. News that he connected with a classmate about a job opening on the East Coast, for example.

4. Face-to-Face Components

Some online MBA programs have in-person residencies, requiring students to travel to campus or another site. The Indiana University–Bloomington Kelley School of Business, for instance, has two on-ground requirements in Bloomington.

Carnegie Mellon University’s Tepper School of Business also has regular “access weekends” on its main and satellite campuses for students in the blended program to network and meet the faculty. “They get to come together and be with their classmates — not just remotely, but actually sit down and study material together,” says Cindy McCauley, the program’s executive director.

5. Student Groups

Part of networking in online MBA programs might involve joining student clubs, groups and associations, which are often career-focused and require virtual communication. Experts say these can be limited to just online MBA students, or combine those who are online and on campus. Both have advantages.

For online students, Kelley has a business analytics association along with other groups, including one for entrepreneurship and venture capital. Some programs might also encourage students to become involved with professional business organizations.

6. Travel Opportunities

In some online MBA programs, students can travel overseas to meet and work with foreign business leaders. Students might spend months or weeks beforehand studying business trends in the country.

At ASU Online, students have visited the Airbus headquarters in France and the Nike headquarters in Vietnam, U.S. News reported in 2013. And at the University of North Carolina–Chapel Hill Kenan-Flagler Business School, students can sign up for immersions in cities that have included Mumbai and Istanbul.

7. Virtual Group Work

Similar to other disciplines, many online MBA programs have group assignments in at least some classes. These require students to interact virtually — either through chat or videoconferencing — to develop business plans and give presentations, experts say.

Bullion, the Graziadio student, completed a five-person team project in his corporate finance class on a publicly traded company’s free cash flows, he told U.S. News. “We really do get to know each other. I’ve made some great friends in this program already.”

8. Both Live and Self-Paced Learning

Similar to other disciplines, online MBA programs combine live and self-paced learning. The advantage, experts say, is not just the flexibility for students to complete work on their own time but also to understand the virtual business interactions that occur in today’s workplaces.

The live portion “fills that interactive need that we want to have in a formal learning environment, and allows for the debating and exchanging of ideas,” Scott Grady, an online MBA student at the Temple University Fox School of Business, told U.S. News. Fox students interact through WebEx videoconferencing software.

9. About Two Years’ Worth of Coursework

While the length of a ranked program varies depending on the school and student, it most commonly takes two years to earn an online MBA, U.S. News data show. At many accredited schools, the online MBA is the same degree as one on campus, so students should expect at least several hours of coursework each week.

“Don’t be fooled: The degree may be ‘part time’ or ‘online,’ but expect to match or surpass the level of effort required to complete comparable in-person coursework,” Aaron Heil, an online MBA graduate from Florida State University, said in an email.

10. Opportunities to Specialize

Some online MBA offerings allow students to specialize in a specific field within business to gain skills in particular areas — something that’s often desirable to online students seeking a career change or professional advancement. At FSU, for instance, online MBAs can pursue a specialization in real estate requiring nine credit hours of related electives.

But online students should ensure that their desired concentration is offered in the virtual format before enrolling. Fox, for example, offers 10 MBA specializations, but not all are offered online.

More About Online Education

Learn more about choosing and applying to online degree programs on our Online Learning Lessons blog, and check out the U.S. News 2017 Best Online MBA Programs rankings.

For additional tips and information, follow U.S. News Education on Twitter and Facebook.

More from U.S. News

Ace an Online MBA Program Admissions Interview

Ask 5 Questions About Networking Opportunities in Online MBA Programs

4 Questions to Ask About Student Groups in Online MBA Programs

10 Things to Expect in an Online MBA Program originally appeared on usnews.com

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

By WTOP Staff
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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