Discount on tuition for MBAs in 2020
Is it fair for students from the most important Business Schools in the world to ask for discounts on tuition – upwards 70% of the yearly rate – on account of COVID-19?
Yes, it’s fair. An MBA program is essentially a face-to-face interaction with professors, peers and recruiters from companies that prospect candidates on campus and a combination of travel, events, meetings, business and sports competitions, friendships, exchange of experiences, new cultures, parties, clubs, tours, and last but not least its also about getting to know the city where the MBA campus is located, visiting museums, restaurants, squares, parks, attending the library, electives in mixed classes with new colleagues, taking care of the curriculum with the career office, updating on new technologies discussed among students , trends, economics, education and culture with colleagues and teachers, living with the family of other students who are accompanied by male and female companions and also children and much more that is obviously impossible to experience through an online course.
Nowadays, it is very easy for any teacher to adapt their material and classes to an online teaching format. If the teacher has a problem with that, he can easily count on the billion-dollar technology infrastructure that all top Business Schools have. Therefore the discount has never been a matter of the quality of the material or the lesson model through a screen, but rather about what is not possible to include through an online teaching model. I strongly believe that the future of the MBA will be increasingly dependent in online support, be it for students to recycle their knowledge, maintain contact with their former classmates or speak to their teachers. During the course of the MBA, the evolution of the online material is essential to provide agile information addressed to the student. However, the focus of the MBA has never actually been academia, but rather, coexistence: this term is what defines an MBA.
As the future of MBAs seem to better align with the support of technology, and technology has become an undeniable support of social relationships, it never will actually come in substitution. For that reason, if the essence of the value of an MBA is momentarily suspended, it is more than fair that you only pay for what you are actually receiving.