For-profit schools, particularly large online colleges like the University of Phoenix and Kaplan University, have garnered a tremendous amount of attention in recent years. As the schools seek to reach more students through aggressive advertising campaigns—University of Phoenix has a $154 million naming rights deal for the NFL's Arizona Cardinals' stadium—and politicians continue to push for more stringent industry regulations, efforts made by other schools in the online sector can go seemingly unnoticed. For-profit schools are not accredited by the Association to Advance Collegiate Schools of Business (AACSB), which is regarded as the benchmark for business school quality among the academic community, experts say.
However, several traditional business programs accredited by the AACSB, some highly ranked, have made the push into the online realm in recent years. Business programs at the University of North Carolina, Pennsylvania State University, Indiana University, and the University of Florida, among others, offer M.B.A.s online comparable to the ones they've long offered on campus. School officials note that the smattering of online M.B.A. programs offered by brick and mortar schools today represents a genesis of business schools adopting online programs, not the peak. "[Other schools] are trying to find out how we do what we do," says Terrill Cosgray, executive director of Kelley Direct—the online program established by the University of Indiana's Kelley School of Business that admits more than 200 students a year. "It appears there are a lot of programs that are exploring the option of an online program."
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