Looking for advise -- seeking distance MBA program prior to a bachelors

Hello,

I'm trying to choose the right college for my situation and was hoping you could give me some advise or insight (I'd really appreciate it).

I am 42, working full-time as a financial analyst, close to completing my AA in business and have substantial and diverse real life experience and non-degree education. I'm an honor roll student at the AA level with a 3.8 average. Also, I've taken undergraduate banking and international economics courses and FAU.

I am looking for a program that will allow entrance into a distance or very limited residency MBA program prior to formal completion of a bachelors, by a respected, accredited college in the US. It's important that it offers substantial credits for life experience and/or professional licenses and testing. A second choice would be a college that allows substantial testing out or CLEP for credits.

I'd prefer to stick with known-name, respected colleges with primarily on-campus programs, but which also offer distance degrees (not primarily virtual schools like Phoenix, Thomas Edison, Charter Oaks or Harriot-Watts for example).

I have several securities licenses (Series 7, 63, 4 and 24) and have passed level I of the CFA (Chartered Financial Analyst, which involves master's level (and higher) finance, portfolio management and economics. I've just taken the level II exam, but won't get results until September.

As well, I've earned my General Contractor's license, Real Estate Brokers license, several insurance licenses and the CNA designation (Certified Novel Network Administrator). Also 5 years of experience in medical administration and extensive marketing experience in different fields.

Thanks!
Jeff

 

Then you should probably try and go for the H-W program. Since they do not require a bachelor's, you have business experience(and book exeperience since you passed the Series 7), it would probably be the best bet. They are also non-residential from what I know.

Bing

 

Some thoughts:

First, although schools will say in their literature that they require a bachelor's, some may consider your application anyway. This falls under the "everything's negotiable" aspect of graduate education. You'll have to ask around a lot and expect to receive a lot of refusals.

Also, seeing that you've take your CFA exams, and have completed the Series 7, you might want to enquire with American College. They require a 1-week residency period for their master's in Financial Services. (American also gives the courses leading to the CFP, CLU, and ChFC.)

The College of Financial planning may offer a similar opportunity with their M.S. in personal financial planning.

Both American College and the College of Financial Planning are regionally accredited. I have no way of knowing whether or not they'll accept you, but it's worth asking.
www.www.amercoll.edu www.fp.edu

Two other thoughts: Consider completing your bachelor's degree. The possesion of a master's without a bachelor's really does raise questions in some circumstances. Also, give consideration to the Heriot-Watt program. While not U.S.-based, it is known throughout the world. The M.B.A. program will admit you once you complete a few of their courses. It's self-paced, and they may even consider waiving one or two courses based upon your professional designations.
www.hwmba.edu

Good luck!

Rich Douglas

 

BTW, the University of Phoenix was a "brick and mortar" university for years (since 1976) before going on line, and continues to offer its classroom-based programs in locations all around the country. Also, Heriot-Watt is also primarilay an on-campus school, having been in existence in Scotland for more than 120 years. TESC and COSC have always been DL-only, but both (along with the granddaddy of 'em all, Excelsior) have been graduating successful people since the mid-1970s.

You will meet plenty of uninformed prejudice regarding DL degrees and schools, don't create any yourself. If you do a DL degree, it will benefit you to become an informed advocate.

Rich Douglas

 

Good point Rich. I guess because Phoenix has been advertising its DL so heavily, I figured it would appear to be DL degree. You're right about the DL prejudice. I would just prefer a degree that didn't scream out "non-traditional" if I could earn one that didn't (one less hurdle in the interview). I appreciate the advise.

 

You might also keep an eye on the Open University's US branch. I don't think that they are accredited just yet, but it seems quite likely that they will be. One of their big advertisements on the front page is for the "No bachelors MBA".
http://www.open.edu/programs/Details.asp?ProgID=27

 

Open University of US is now accredited by DETC. http://www.open.edu/help.asp . Scroll down the page to find the accreditation statement.

Ike

 

After all the head-bashing and teeth-gnashing over the acceptability and marketability of degrees from DETC-accredited schools, wouldn't it be a hoot if more and more schools with other acceptable accreditation go for DETC's approval of their DL programs, too? DETC might just end up as the "Good Houskeeping Seal of Approval" for DL!

Rich Douglas

 

Hi Rich

Yes that would be hilarious. Does anyone know what progress USOU has made on regional accreditation? USOU's web site is well done.

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Best Regards,
Dave Hayden

 

The USOU became a candidate for accreditation with the Middle States almost immediately, certainly due to its association with the well-established OU in Britain. This was remarkably fast. Still, they (and we) can expect USOU to remain candidates for a minimum of a year (which should be almost up). After that, it's anyone's guess as to how long it will take for them to pass an accreditation review.

The time spent as a candidate can vary widely from school to school. Capella University spent only a year (after having been granted candidacy almost immediately upon opening its doors). The Union Institute spent a record nine years! Most schools take a few; even five isn't too uncommon. And as I've noted earlier, while there have been many schools that have not advanced to "full" accreditation," only a few purely DL schools have been turned away. My recollection is that the last DL school to be denied accreditation was the International Graduate School. This happened sometime around 1986. Before that, you'd have to look at Prometheus College or Windsor University. I think this is because DL schools go through so much scrutiny up front that the ones granted candidacy are clear winners; full accreditation is almost inevitable. Just a theory.

Rich Douglas

 

Why is OUUS so expensive?

 

Hi Rich

Thanks very much for the detailed response. Are there other Universities that hold both DETC and RA accreditation? Graduate level CS seem to run about $1880 per class. That does seem expensive.

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Best Regards,
Dave Hayden

 

I doubt that regionally accredited universities in the US will rush for DETC accreditation. All of the GAAP schools that have applied so far are foreign schools. Currently, most RA schools look down on DETC schools and applying for DETC accreditation will appear as if they are intentionally lowering the prestige of their schools.

Ike

 

And the accreditation of the foreign schools have zero meaning (i.e. it is just an attempt to suck-up to ignorant consumers in the US market). These schools are generally appropriately accredited in their own countries and would be more accepted in the US based on their foreign accreditation than with DETC.

 

Yet, it is happening. There is no better example than UNISA, which has been offering its DL degrees for decades. Or the U. of Leicester, which hardly needs the DETC to bolster its image. There is something else afoot here.

When I was working with John Bear in marketing Heriot-Watt's MBA program in North America, one of my tasks was to look into both DETC accreditation and getting approved for military tuition assistance. (I was an Education and Training officer in the Air Force). I found one very interesting thing: the Defense Activity for Nontraditional Educational Support (DANTES, the people who offer CLEP-like exams for credit through the ETS) maintained a book at each base's education center listing many DL programs at accredited schools. That book I knew about; when I was working in an education center I had occasion to use it. What had been added, however, was a huge section of the DETC-accredited schools. If your schools is accredited by DETC, you went in the book. If your school was in the book, it was automatically eligible to have its military students use tuition assistance. Just ask American Military University if that's a huge advantage.

Well, we were pondering the possibility of getting the Edinburgh School of Business DETC-accredited when Financial Times Management swooped in and bought John out. (Getting Heriot-Watt to go along with the DETC may not have happened, but it would have solved two problems: military tuition assistance eligibility--which was hard to get for foreign schools--and a very simple answer to the question, "Are you accredited?" The "well, yes, but let me explain what a Royal Charter is" kinda got old.

Rich Douglas, who really didn't do all that much.

 

I agree that foreign schools are seeking DETC accreditation because they want their students to qualify for tuition assistance. RA schools on the other hand have already met the eligibility requirements for tuition assistance. There is no need for RA schools to seek DETC accreditation if the main reason for such accreditation is to qualify for tuition assistance.

Ike

 

No. Not exactly. According to Air Force Instructions regarding tuition assistance, in order for T/A to be paid for a DL program, the recipient must first prove that a similar program is not available in his/her local area. For example, I had to show that there were no other doctoral programs available where I was stationed (San Antonio) before the Air Force would approve my tuition assistance for The Union Institute.

This is not true for schools listed in the DANTES catalog; they are approved prima facie.

I have no idea what the other services require, or whether or not the Air Force has changed its requirements during the five years since my early retirement(at the ripe old age of 36!).

Rich Douglas, Captain, USAF (Ret)
Rich Douglas