Thursday, June 25, 2009

Top Online MBA School Profile - #2 Drexel University

Drexel University just missed taking top honors among AACSB-accredited schools offering online MBAs. This article profiles the school.

Drexel University was founded in 1891 as Drexel Institute, a private school focusing on “Art, Science, and Industry”. The Philadelphia, PA school operates the Bennett S. Lebow College of Business. Drexel offers full-time, part-time, Distance and Executive MBA programs. In terms of online MBAs, Drexel’s program is called the MBA Anywhere program. The MBA Anywhere offers concentrations in Finance, Entrepreneurship, Marketing, or Engineering Management. Drexel also offers an online Corporate MBA in Pharmaceutical Management.

According to the AACSB, the average GMAT score of Drexel’s MBA students is 600; Drexel says the minimum acceptable GMAT score is 600.

The MBA Anywhere at Drexel is a 20-course curriculum, featuring 17 “cohort” classes taken at the same time as contemporaneous classmates, plus three on-campus residency seminars, all to be completed in 24 months. The rigorous 60-credit course load is more difficult than most MBA programs, but the program is nationally recognized; the Lebow School is often highly regarded as a prominent “second tier” Business School and BusinessWeek ranks Drexel’s Part-Time MBA as the 10th best in the nation, making it arguably the most prestigious university to offer an online MBA.

One significant advantage to Drexel is that the Lebow school operates an MBA Career Services office, designed to help MBA graduates make immediate use of their MBA in their career. This office is open to MBA Anywhere students just the same as any MBA student at Drexel.

According to the AACSB, 747 of 3,283 total students are MBA students (22.75%).

Tuition for MBA students at Drexel is the same, in-state or out-of-state. Drexel charges $54,000 in tuition and fees for a one-year full-time MBA, not including course materials, room and board. Per credit-hour charges are $915 each, so a 60-hour curriculum would cost $54,900. Drexel advises online students to inquire for specific costs for online classes, indicating additional fees would be applicable, although their website says the MBA Anywhere is a flat $54,000.

That does not include course materials, though, so with 20 classes you’re looking at about another $4,000 in textbooks and supplemental material, so the actual price tag is around $58,000. But at least it’s simple and clear, no hiding the cost.

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