Business Schools Journal

Alleviating the Tuition Payment Woes of International Students in America

international-students

More international students than ever before are flooding the gates at U.S. colleges. Part of the reason for this upturn is the perception that American universities offer a superior education. However, the trend is also bolstered by the interest of U.S. schools in international students, according to this recent Fox News article.

Recent years of economic difficulty are causing U.S. colleges to miss out on many financial endowments. Where most of these colleges admit resident students at reduced tuition, and often with the assistance of financial aid, international students are a different story. Foreign students are, in most cases, required to pay full tuition and are rarely provided with any kind of financial aid.

That translates to a financial boon for U.S. schools, but until recently, it was difficult for students to ensure that the institution of their choice actually received the funds necessary to cover their tuition and fees. That’s because students in foreign countries used to have to visit a local bank to wire fund`s in U.S. dollars to the college of their choice. The process involved excessive fees and could require weeks to finish as the wire transfer was shunted from one bank to the next, making its circuitous way to its destination. Upon arrival, the money received was often inadequate to cover the expenses because of service fees charged along the way and unfavorable exchange rates.

This system caused headaches for schools in financial difficulty and for students who were faced with having to repeat the process in an attempt to make up tuition and fee deficits. In extreme cases, students arrived in the U.S. only to discover that they had never actually been enrolled in a college because the money they sent was inadequate or simply never arrived.

Solutions for a Difficult Problem

BloombergBusinessWeek reports on how a recent agreement made between Western Union Business Solutions and American schools that choose to participate is revolutionizing the way that foreign students pay tuition and fees. The new agreement takes the local bank out of the equation, setting up students to pay their tuition and related expenses at their school’s website. Funds are paid in the foreign student’s local currency, and Western Union effects the transfer of funds without fees. The result is timely payments made in the correct amount and with a minimum of expense.

Students from India who are studying in the U.S. have been able to take advantage of this system for some time now, and Chinese students, who represent a large percentage of foreign pupils in American colleges, are now able to participate as well.

In order to qualify for the tuition payment program through Western Union, both the student’s home country and the school of their choice must be participants. While this program may only be available on a limited basis today, it seems likely to grow given the interest of foreign students in studying abroad in the U.S. This interest, coupled with the financial needs of U.S. institutions, seems designed to help this joint effort flourish and proliferate.

February 15, 2013   Comments Off

The Best Online Schools for a Master of Business Administration in Finance Degree

mba-finance

Financial managers, investment bankers, and financial fund managers represent a small percentage of professionals in the financial industry, and they enjoy rewarding salaries of up to $134,000 or more annually. Aside from great earning potentials, those professionals also enjoy stable careers that are expected to grow 12 percent or more over the next five years. Without a doubt, the most skilled, trained, and highest paid individuals in the financial sector possess a Master of Business Administration in Finance degree, which is offered by an array of quality, convenient, top-ranked online colleges and universities today.

All of the online schools that are mentioned below were chosen based on the quality, comprehensiveness, reputation, and affordability of their Master of Business Administration in Finance Degree programs. These characteristics are what make the following list of online colleges and universities an invaluable resource to potential students.

Above all else, an educational facility’s accreditation distinguishes it as a quality, worthwhile institution for higher learning. Each of the online colleges and universities that are reviewed below are accredited regionally, and many of them also possess credentialing through the Association to Advance Collegiate Schools of Business.

1. University of Massachusetts- Master of Business Administration in Finance
Cost: $585 per credit hour

2. Northeastern University- Master of Business Administration in Finance
Cost: $67,250 for the entire program

3. University of Liverpool- Master of Business Administration in Finance
Cost: 12,000 pounds or $18,955.20 per year

4. University of Maryland University College- Dual Master of Business Administration in Finance/Master in Finance
Cost: $49,602 for the entire program

5. American Intercontinental University- Master of Business Administration in Finance
Cost: $582 per credit hour

6. Northcentral University- Master of Business Administration in Finance
Cost: $20,640 for the entire program

7. Strayer University- Master of Business Administration in Finance
Cost: $2,325 per course

8. Colorado Technical University- Master of Business Administration in Finance
Cost: $585 per credit hour

9. Capella University- Master of Business Administration in Finance
Cost: $699 per credit hour

10. Benedictine University- Master of Business Administration in Finance
Cost: $570 per credit hour

Source: The Top 10 Best Online MBA in Finance Programs

February 14, 2013   Comments Off

Getting What You Pay For In An MBA School

mba-cost

For the last 15 years, Yale’s business school lost money. It is an interesting fact considering a business school should make a profit since it is what they teach, but there is more to the issue than Yale’s failure to make money. Bloomberg Business Week’s rating of MBA programs recently placed Yale as the 21st business school in its top-tiered rankings, right behind Michigan State. There are two criteria Bloomberg uses to rank the schools: value and quality. Yale may be losing money, but students attending Yale may still benefit.

According to a New York Times article by Adam Davidson, Yale recently hired Edward Snyder as the new Dean of the School of Management. He is known for turning the University of Chicago’s business school into a top rated program. Snyder suggests Yale did not keep up with the changes occurring in business schools, causing it to lose money.

Business Schools in Business

Business schools work today within the markets, like major corporations do, and as the number of applications to business schools rise, so does the price. Today’s top-rated schools evolved to create global brands that include prestige and high quality education. As a result, students attending those schools expect to face costs over $300,000 for their education.

Snyder believes it is acceptable for elite schools to charge a high amount because they create thinkers that evolve companies into global brands with big ideas. The students leave those programs with the knowledge to execute those ideas. In contrast, lower-tiered schools teach only commodities and profits and lack educating students in big ideas and strategies.

According to a US News article, a recent study reported B-schools do a great job of teaching business fundamentals but do not focus enough on business strategy. Some critics do not believe this negative aspect of the study should be highlighted, but this part of the report parallels Snyder’s point that more expensive, top-rated schools focus on strategy, making the higher cost suitable at those institutions.

Yale’s Future as a Successful MBA Program

Snyder has a five step plan to elevate Yale’s status in the rankings and to bring in profits. He wants to strengthen the areas that are already strong assets for Yale. His goal is to focus on a faculty that is diverse in real world experience and offer a broader mix of programs. The plan requires the business school to calculate the cost of things and collect and share data. Finally, he wants to offer Yale as a brand to the world, but in places that are not already saturated with business schools.

Yale is a testament to the changing world of business schools and the choices prospective MBA students have to make. The cost of a top-tier business school is often extreme, with small dividends, but the benefit lies in what is taught at those top-rated schools compared to value schools. As top-tiered schools successfully bring in more applicants and money, many prospective MBA students might consider the example a business school sets as a business.

February 14, 2013   Comments Off

Reputable Universities Offer Online Masters Degree Programs in Human Resource Management

human-resource-managerment

Human Resource professionals today are looking for ways to improve their knowledge and skill set in order to advance in the field of human resources. For working professionals seeking higher education, an online master’s degree program in human resource management can provide them with the flexibility needed as they continue to work in full time positions. To meet the need of professionals and students seeking online degree programs, many reputable universities are now providing such options. Masters in Human Resources Degrees gives visitors an overview of the ten Best Online Masters in Human Resources Management.

Masters in Human Resources Degrees provides information on ten of the best universities that offer masters degrees in human resource management. Listed alphabetically, each summary includes a description of the university’s online program and the cost for tuition.

The universities listed ranked high in the US News and World Report’s America’s Best Colleges report.

1. Abilene Christian University – Masters in Organizational and Human Resource Development
Cost: $892 per credit hour

2. California Intercontinental University – Masters in Business Administration Organizational Development and Human Resource Management
Cost: $295 per credit hour

3. Capella University – Masters in Business Administration Human Resources Management
Cost: $614 per credit hour

4. DeVry University – Masters in Business Administration Human Resources Management
Cost: $37,135 total tuition

5. Lasell College – Master of Science in Management Human Resource Management
Cost: $575 per credit hour

6. Penn State University – Master of Professional Studies in Human Resources and Employment Relations
Cost: $775 per credit hour

7. Drexel University – Masters in Human Resources Management
Cost: $45,000 total tuition

8. Mercy College – Master of Science in Human Resource Management
Cost: $815 per credit hour

9. University of Scranton – Masters in Human Resources Management
Cost: $887 per credit hour

10. Walden University – Masters in Human Resources Management
Cost: $840 per credit hour

February 12, 2013   Comments Off

The London Business School Practices What It Preaches

london-business-school

The London Business School is a prestigious institution with a worldwide reputation to uphold. Many of the most influential individuals working in the field of Human Resources teach at the LBS, including such luminaries as Rob Goffee, Gary Hamel, and Lynda Gratton. But the interest in high-quality, educated, and informed HR management does not end in the classroom. The London Business School has a staff of over five hundred employees beyond the faculty, including their own HR department. The director of the non-academic HR department, Philip Willatt, does his best to practice in the employee arena what they preach in the classroom. In his decade of experience in this position Willatt has used the LBS as a laboratory and showcase for the values the school espouses, bringing the words of the teaching staff to life in his department. As Willatt says in a recent interview with HR Magazine, “We want to involve as many stakeholders as possible in shaping who we want to be.”

Staying True to Its Mission and Values

The London Business School is well known as one of the most effective management training schools in the world. The LBS takes its core values and vision very seriously. They give their strong beliefs and emphasis on global awareness and integrity full credit for their success. The proof is in their amazing graduation and employment rates. 93% of the graduates who received MBAs in 2011 got a job within three months of matriculation. This is an astonishingly high percentage, especially in the context of the current market for MBAs.

The mission and values of LBS are clearly articulated by Willatt and his staff, and are easily comprehended by any student or visitor. These values were not decided in a vacuum. Over two years were spent painstakingly working out the exact wording and presentation. Consensus was essential because it was important that all employees understand and agree with these core beliefs. They must be carried out at every level of the LBS enterprise, even those traditionally overlooked by HR staff. Willatt points out, “Values are important here, because they go into procurement functions, including catering, cleaning and printing.”

The LBS has always been known for big ideas and important announcements. According to a recent Management Today article, in 2011 Gary Hamel, a professor from America visiting to teach entrepreneurship and strategy, made international business news when he declared that the greatest invention of the 20th century was management, but that fundamental flaws in the application of this knowledge was leading to a crisis in capitalism and therefore “the era of the imperial CEO will come to an end.” This is the sort of cutting-edge reasoning for which the LBS is so well known.

Hand-On Learning Laboratory

The London Business School is a place of learning, but it is not a training college or public university. It is a charitable not-for-profit business entity. This has given Willatt and his staff the freedom they need to truly put the ideas of the LBS Human Resources school into practice. It is invaluable for the students and professors to see the results of their education up close and at once. There is no substitute for hands-on experience, as Willatt knows. He understands and fulfills the first purpose of business college by using every resource of the school to further the education of the attendees.

February 12, 2013   Comments Off