Dive Brief:
- The University of Rochester’s Simon Business School will drop its two-year tuition cost to $92,000 from $106,500 after years of standard increases that were not in line with those of its peers.
- Inside Higher Ed reports that demand for traditional MBAs is falling among U.S. applicants who may be turning to one-year programs or other cheaper alternatives even while employer demand for the traditional credentials remains high.
- Rochester expects a jump in enrollment with next year’s price correction, which will be paired with a lowering of its average GMAT score to welcome candidates with more work experience.
Dive Insight:
MBA programs may be losing their hold on the market. Some have expected a tuition collapse for years, recognizing today’s students are less willing to make the significant investment tuition and fees require and fewer employers are bankrolling the programs. So far, the MBA has remained as the pinnacle business degree, but schools have offered other alternatives for students interested in a business credential, albeit a less pricy one. Online options and specialized master’s programs have all played a role. Abroad, the Master’s in Management, or MiM, has pulled students away from traditional MBAs for decades. News of tuition cuts like Rochester’s soon may become normal.