Most graduates of the full-time program go into technology, manufacturing and finance, according to the school, but it would like to see more students interested in other fields such as entrepreneurship or nonprofits among its future classes.
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“If someone has a great startup idea, and they know they would be more successful in their venture if they had the skills and networking that an MBA would give them, they might be concerned about spending the money because it takes away from the capital needed for the startup venture”, said Amy Hillman, dean of the business school, announcing the free degrees. That will be a significant savings, given that current tuition and fees for the program are $54,000 for Arizona residents, $87,000 for nonresidents and $90,000 for global students. They wondered what would happen if the cost of attendance were no longer a barrier. The new program will be paid for with a $50 million donation from philanthropist William Carey, and full scholarships will be available for up to 120 students. That money had been put toward recruiting new faculty, but Ms. Hillman said her administration agreed it was time to spend the money on students.
This past fall, 86 students were admitted into the full-time M.B.A. program.
Hillman said the program will aim to enroll students who are looking to pursue a business degree in non-traditional business markets, such as nonprofit organizations. The school has held town-hall meetings to solicit students’ feedback, and reaction has been largely positive, Ms. Hillman said. “But I’m excited about the direction of the program”.
To a few extent, the scholarships are in keeping with Arizona State’s reputation for maverick moves in higher education. She says the scholarship will help people who wouldn’t normally be thinking about a graduate degree, or couldn’t afford it, attend school.
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Butler said the program will attract students who might have not considered an M.B.A. and allow them to participate in specialized business markets, such as healthcare.
