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Date published: 11/30/2008
BY BILL FREEHLING
As the U.S. economy struggles to gain footing, the University of Mary Washington's graduate business program is thriving. Enrollment has risen steadily for the past couple of years at UMW's Master of Business Administration program, said MBA Director Alan G. Heffner. Applications for students looking to start this spring were up 22 percent over last year. "They just seem to keep growing," Heffner said. Heffner said applications for the fall of 2009 will be a better indica-tor, as the financial turmoil intensified in the past two months--after many of the applications for the spring semester were in. But he said applications typically pick up during an economic downturn. His colleagues at other MBA programs report the same. UMW's program, which is part of the College of Graduate and Professional Studies in Stafford County, started in 2000 and now has about 240 students. The majority of students work in Washington, while some are employed in Richmond and at the military bases at Dahlgren and Quantico. Classes are at night, and the program is geared toward working professionals with full-time jobs. Most students take about three years to finish their degree. The median age is about 35. Several UMW MBA students interviewed for this article pointed out that a weak economy makes the MBA degree even more important to have. It allows them to stand out among a more-crowded job applicant pool, and those looking to stay at the same company say the degree gives them a better chance of avoiding being laid off. "When the economy's down, you have to do everything you can to make yourself more marketable," said Pablo Framinan of Fredericksburg, who started the MBA program two years ago and will finish next month. Framinan works in sales and marketing for Carlson Wagonlit Travel. Classmate Jim Frago lives in Goochland County and owns a real estate investment company that buys, renovates and sells houses. Lately the selling part of that equation has been difficult. Frago said the MBA program has helped him steer his business model toward the rental market. He said many of his courses have involved real-world examples of why some businesses have failed while others have thrived. "It's a very intellectually stimulating discussion," Frago said.
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