Photo by Chris Radcliff via Flickr Creative Commons
At UCLA, the MBA program will no longer be supported by funds from the State of California.
The UCLA Academic Senate approved a plan today to shift the Anderson School of Management's daytime MBA program to a self-funded model. Anderson's MBA program has been around since 1939 and has always been state-funded. But now it will be supported only by tuition and donations, according to UCLA.
The total savings will be $8.8 million, which would be diverted to other programs at UCLA, making up for budget cuts brought on by the ongoing fiscal crisis in state-supported higher education in California.
UCLA Anderson is generally considered an elite, top-20 business school, as ranked by publications such as Forbes and U.S. News & World Report. Tuition is currently over $45,000 per year for California residents and over $52,000 per year for out-of-state students studying full-time.
The vote in the UCLA Academic Senate was 53-46 in favor of the move, with three abstentions. The proposal now goes to the full University of California Academic Senate and UC President Mark Yudof for a final vote.