Internet MBA at 90 per cent discount

A company owned by 16 of the world's top universities and The Thomson Corporation launched the first online Internet programme this week. Tuition fees for a two-year MBA course will be $12,000 for US based students, a 90% discount on the bricks-and-mortar alternatives.

These fees will be even cheaper for students from countries like India and China with fees weighted according to local purchasing parity. The MBAs will be equal in standing to those of the 16 universities involved in the venture which range from McGill University in Canada to the University of Edinburgh and National University of Singapore.

AME Info was invited to a presentation of the MBA course in Dubai and was very impressed by the standard of e-learning on offer. Students get access to their own space on the Universitas 21 Global server and can log-in from anywhere at anytime.

From the server they can access course-work, assignments, and email their tutor and chat to fellow students around the world. Competition for admission to the MBA programme will be global and by merit only. Candidates will need at the minimum two years of work experience, a GMAT test pass and undergraduate degree.

But won't this highly cost-effective route to an MBA put the 16 universities that own it out of business?

'Universitas 21 Global is a response to global demand for MBAs,' says Chief Executive Officer Dr Mukesh Aghi. 'There are 500,000 applications a year for MBA places and only 5% are successful, so that leaves a huge unsatisfied demand. But we are confident that there will always be people who want to take the bricks-and-mortar option for many reasons.

'Going online for an MBA is a matter of necessity for many people, but we will only be taking 5,000 in the first full-year cycle so it is going to be hard to get a place. We want to ensure that the reputation for quality and brand value is maintained. This is not a way to get an MBA in your email to print out'.

Dubai will be the regional base for Universitas 21 Global which has no immediate plans to enroll a local university, with Leading Concepts and Man Management Consulting acting as local agents.

From a philanthropic perspective it is impossible not to be impressed with this online initiative. It will bring the benefits of modern business education to those who are least able to afford it with the brains to benefit most from it. Besides as budding businessmen any young person should recognize that an MBA at this price is a fantastic investment with a guaranteed instant payback.

For more information visit, www.u21global.com