Why MBA programs are shutting down

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A strong job market is suppressing demand for master's in business administration degrees, leading many universities to shutter their in-person programs in favor of online versions, The Wall Street Journal reports.

From 2014-18, full-time, accredited MBA programs dropped 9 percent, while the number of online programs doubled. Online offerings are popular because they are shorter, more specialized and often more affordable, according to the report.

For example, working millennials with high levels of college debt might be more likely to enroll in the University of Illinois at Urbana-Champaign's online MBA program, which costs $22,000 to complete — less than half the $58,000-plus sticker price of the traditional option. UIUC's traditional MBA program, one of the top 50 in the nation, is expected to lose $2 million this year. UIUC announced it will end its on-campus MBA this year.

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