Arizona State University is just giving away MBA degrees.
OK, students still have to study and complete the program — but it won’t cost incoming MBA students a penny next year.
There are 85 students in this year’s 2015 class, but starting next fall, up to 120 new students will have their entire tuition for the MBA program paid in full.
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ASU’s W. P. Carey School of Business wants to attract non-traditional business students, such as people who want to work for nonprofits but might be scared away by the normally high tuition — $54,000 for in-state students, $90,000 for out of state residents.
The tuition giveaways are coming from a $50 million dollar donation from real estate tycoon William Carey. The donation not only spurred ASU to name its business school after him, but paid for the recruitment of new faculty.
The school’s administrators decided it was time to start using some of Mr. Carey’s donation to help students.
Administrators want to see what kind of business majors they will attract if cost isn’t a barrier — and what those graduates might be inspired to create if they didn’t have student loans on their back.
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The Carey School of Business is regarded as a top school in its field, with 90% of graduates landing jobs within three months of graduation paying an average of $90,000.
The school hopes these grateful alumni will repay some of the free education with donations or mentoring of business students in the future.
(READ more at the Wall Street Journal) — Photo: Kevin Dooley, CC
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