Higher education: MBAs and degree-completion programs offer career advancement opportunities.

It's no secret that furthering one's education can help in job placement and income levels. According to statistics from the U.S. Department of Labor, the average college graduate earns 62 percent more than the average high school graduate. In a perfect world, we'd all go straight to college from high school, getting that degree and reaping the financial rewards from it.

In the real world, however, things don't always work out that way. Some choose to go right to work after high school. Some go to college for awhile, yet end up disgruntled at the expense and time involved, opting to quit and enter the work force. Some are able to obtain a job in the field of their choice, only to find that in order to advance in their business career, they really need a Master's in Business Administration or a completed undergraduate degree. But by this time, life has gotten in the way and the reality of mortgage, kids, car payments, etc., makes going back to school seem impossible.

Fortunately, for us in Alaska, the variety of choices offered in regards to degree completion or MBAs can make adult education an easier fit with work and real life. ABM has provided a roundup of some of the most comprehensive programs available in the state, with an overview that can assist you in deciding which program might be the best for you.

ALASKA PACIFIC UNIVERSITY

One of the most popular and well-known programs offered in Alaska is the degree-completion program at Alaska Pacific University. Designed for the working adult with approximately 60 transfer credits to complete a bachelor's degree in two years, APU provides fast-paced seven-week courses that are held exclusively in the evenings from 6 p.m. to 10 p.m. A commitment of attending two classes at a time is required. From last summer through this spring, APU has had more than 200 students enrolled in degree-completion programs.

Program Director Carole Lund states that having a bachelor's degree can sometimes make the difference between getting that sought-after job or promotion. "Degrees open doors for our students and their careers," she says. "The classes they take here prepare them for the challenges of new positions." Lund says that most of the attending students are adults over the age of 25, many holding associate's degrees or credits from other accredited institutions. Job enhancement (pay raises, promotions, etc.) is cited as their No. 1 reason for returning to school.

At $320 per credit hour (with costs going up to $340 in 2008), this is one of the more expensive programs, but the convenience factor and accelerated learning seems to compensate for the cost. Lund states that many students receive tuition reimbursements from employers, as well as utilizing APU's financial aid services.

Alaska Pacific also offers an MBA program. Tracy Stewart is the program director for the general MBA program. Stewart says that most of the students in her program are fully employed and are returning to school for professional development. "Our programs focus on active learning, where students get opportunities to utilize the theoretical foundations of business administration," she says. "Our smaller class size allows increased interactions between students and faculty, as well as a more personalized and flexible education."

Students can complete an MBA in 36 credits at APU, with most classes running over a 15-week semester, one night a week. There are some compressed classes offered as a block in the fall, spring or summer semesters. Stewart says that most students complete their degree in about five semesters. The cost of a full degree ranges from $21,000 to $22,000 total, with financial aid, grants and scholarships available. Many employers will also reimburse for tuition.

UNIVERSITY OF ALASKA

The University of Alaska might seem focused on the traditional undergraduate student, but they offer an MBA curriculum that has high standards and accommodates working students with ease. Comprised of seven core courses (21 credits) and 15 credits of curricular options, they require a total of 36 credits of advanced course work. Admission to the program is restricted to students holding a BA from a regionally accredited university, or foreign equivalent.

Dr. Ed Forrest, MBA program director at the University of Alaska Anchorage, cites the Summary of Corporate Recruiters Survey Report when asked about the benefits of getting an MBA. "According to this report," he says, "40 percent of all new hires in 2005 had an MBA, suggesting that companies value this degree. Starting annual salary for MBA graduates continues to rise with an estimated increase of 4 percent from 2005 to 2006."

Students typically take two courses per semester, with a 2-year anticipated completion. Costs are $268 per credit for Alaska residents ($414 for nonresidents) and there is financial assistance available. All classes are held in the evenings (Monday through Thursday) with some classes offered on Saturdays. There are approximately 80 students enrolled in UAA's MBA program at any given time.

The University of Alaska Fairbanks and University of Alaska Southeast also offer MBA programs.

WAYLAND BAPTIST UNIVERSITY

Perhaps a lesser-known entity, but an extremely popular one, is Wayland Baptist University. Located just off Muldoon Road, this private university has a religious background, but campus Dean Jeff Anderson says that only the staff is required to be affiliated with a church. "We do not discriminate against anyone," he says.

Wayland offers both degree-completion programs and MBA programs. Anderson states that most of Wayland's students are enrolled in the undergraduate degree-completion program for working adults. Fields include business administration, management, health care, human resource management, human services and occupational education. The undergraduate degree-completion program is called a Bachelor of Science in Occupational Education. Wayland also offers five master's programs: Master of Arts in Management, Master of Business Administration, Master of Public Administration, Master of Christian Ministry and a Master of Education/Secondary Education. The MPA program can be taken completely online, while the others require that at least half of the course work is completed on campus.

Classes run in 11-week terms, with most classes meeting once a week from 6 p.m. to 10 p.m. Summer classes meet twice a week for 5 1/2 weeks. Additionally, WBU now offers more than 100 online classes per term to complement the 70 local classes offered in Anchorage and Mat-Su. Anderson says that Wayland specifically caters to working adults, with their class hours reflecting that.

One benefit of attending WBU is they allow students to accrue up to 12 credits in the undergraduate program based on documented prior work experience. This can save students up to two terms of class time. The school also offers the option of taking what is called a CLEP exam (College-Level Examination Program), in which students can take exams that basically allow them to "test out" and get credit for classes.

WBU is also one of the least expensive colleges in the area, with tuition running a mere $155 per credit hour for undergraduates and $180 per credit hour for graduate school. Online classes run an additional $25 per hour and Anderson says that tuition is expected to go up approximately $15 per credit hour this summer. Financial aid is available.

The affordable price helps explain the huge enrollment-as of this spring, WBU has 550 undergraduate students and 60 graduate students.

CHARTER COLLEGE

Charter College in Anchorage specializes in a fast-track program that earns a degree in record time. "Our students tend to be career-oriented, mature and want to enter or re-enter the work force as quickly as possible," says program director TJ Harris. Charter fills this niche by providing a 2 1/2-year bachelor's degree program, giving working adults the chance to get their degree in almost half the time of other schools. Charter also has a very liberal transfer policy, allowing students to transfer in as much as 67 percent of their degree.

Charter's curriculum, while being academic in nature, focuses mainly on preparing students toward the job market. A student is trained and instructed on the specific job functions and objectives of their career choice. They are then able to immediately enter the work force once they get their degree and can start producing for the employer.

Classes are offered both during the day and evenings Monday through Friday, with morning and afternoon classes on Saturdays. The school has a flexible schedule that can enable students to attend school full-time while still working and/or caring for a family. Charter has also recently received approval from the Alaska Commission on Postsecondary Education to offer distance education, which means that online classes will be available soon.

According to Harris, costs at Charter run a bit higher, mainly because they are a private college and their programs are career-oriented. Harris is quick to point out, however, that their fast-track program can greatly increase a student's earning potential in a short amount of time. Student population tends to range between 400 to 500 students each term. They offer financial aid for qualified students, as well as loans via state and local agencies.

All of these choices for higher education make it easier than ever to live your life while still planning for the future. Degree seekers can make their dream a reality, as there is truly something for everyone in today's college market.

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