Can you imagine enrolling into an MBA programme and at the same skip the testing, paperwork, and interviews?
Yep, it is possible, you can now take all the classes that a full time MBA programme typically offers while skipping the entrance requirements and most importantly, not pay a dime for it! That’s right- an entire free MBA course online! How cool is that!
How is this even possible? Well, the University of Illinois at Urbana Champaign’s College of Business got approval last Monday to roll out a new MBA program, through online education platform Coursera.
Over the coming months, the school will post all the courses required for its traditional MBA program on Coursera, free of charge! Students will be able to go through the entire curriculum while earning certificates in specializations like digital marketing, accounting, and business operations.
Keeping in mind that there’s no such thing as a free lunch, we feel obligated to inform you that there is a catch. The the classes for the MBA will be available online, but those who want an actual MBA from the University of Illinois, not just a certificate, will have to apply for admission to the full iMBA program and pay about $20,000 in tuition.
Knowing how expensive MBA programmes usually are, $20,000 is still a pretty decent discount. Online MBA programs at top business schools charge students anywhere from $78,200 to $108,080 for a full MBA.
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. 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,
says Daphne Koller, president of Coursera.
This Free MBA course is meant to start in the spring of 2016. Therefore, prospective students will be able to send their applications later this year.