“As applications to full-time MBA programs are slowing, and signs that the slump may be getting worse, many second- and third-tier business programs are looking for innovative ways to reverse the trend and keep tuition revenue growing, says Michael Horn, executive director of education at Innosight Institute, a nonprofit think tank in Mountain View, Calif.”
3. Since the first online MBA was offered in 1987, a variety of organizations have tried to offer online MBA programs. Read on for more facts and statistics about the growing popularity of online MBA programs. (Source http://www.topmba.com/blog/online-mba-facts-mba-facts)
- The MBA is the most popular distance learning degree, according to GetEducated.com.
- The first online MBA program was offered by Aspen University in 1987. Aspen still offers an online MBA, but their program is not accredited by any of the three major accreditation organizations. In 1989, three schools had online MBA programs.
- According to Poets and Quants, enrolment rates for online MBA programs began to spike in 2000. Most of the growth was experienced by for-profit MBA programs.
- Kaplan and Newsweek tried to offer an online MBA in 2006-2007.
- The first Facebook-only MBA program was created by the London School of Business and Finance in 2010.
- Last year, Poets and Quants reported that 11,000 students were enrolled in 90 AACSB-accredited online MBA programs.
- Despite the fact that it lacks AACSB accreditation, the University of Phoenix has 30,000 students in its online MBA program which has 4,774 faculty members. AACSB-accredited online MBA programs admit much fewer students. Kelley Direct admits 200 students a year and the Penn State iMBA program admits 120 students according to a 2011 U.S. News & World Report article.