Author: Ray Schroeder
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By Scott Jaschik, Inside Higher Ed
The University of Illinois at Urbana-Champaign announced Friday that it plans to shut down its residential M.B.A. programs — full-time and part-time — to focus on its online M.B.A., which it calls the iMBA. The move still requires formal university approval, but the announcement is a sign of the shift going on in business education — in many cases away from traditional M.B.A. programs. Several universities have scaled back or eliminated such programs and focused instead on online or one-year master’s programs in business-related fields. Applications to the iMBA program have tripled from 1,100 when the program started in 2016. The total cost for the iMBA is $22,000.