Frequently Asked Questions

Admission        Program         Tuition and Financial Aid     

 

Admission

What does the MBA application include?

The following MBA application requirements should be completed online:

The following MBA Application Requirements must be mailed to:

Loyola University New Orleans, MBA Program
6363 St. Charles Avenue, Campus Box 15
New Orleans, LA 70118

  1. MBA Application Form
  2. Nonrefundable Application Fee of $50: Enclose a check or money order payable to Loyola University New Orleans or use our Online Credit Card and ACH Check System.
  3. Two Recommendation Forms: Recommendation forms should be completed by an employer (someone in a supervisory capacity) or college professors.
  4. Resume: Provide a detailed description of your employment experience and education.
  5. Personal Statement: In 400 words or less, address the following three questions in one essay:
    • How do you think an MBA will enhance your academic and/or professional background?
    • What expectations do you hope to realize by earning an MBA at Loyola?
    • What do you bring to the program?
  6. Official GMAT or GRE Score Report: Score reports must be sent by Pearson VUEor an Official GRE Score Report sent from ETS.  GMAT and GRE scores are valid for five years.  Our school code is 6374 for GMAT and 0022 for the GRE.
  7. Official Transcripts: Official Transcripts are required from every college and university attended since high school, including any schools attended through dual enrollments programs or summer session.  Official transcripts may be sent directly to Loyola’s MBA Admissions Office or you can have them sent to yourself in the school’s envelope.  Do not break the seal of the envelope.

Optional Graduate Assistantship Application

International Students
In addition to the documents listed above, international students must submit the following: 

TOEFL score report: We require score of 580 (paper-based), 237 (computer-based), 92 (Internet-based), or higher. TOEFL scores are valid for two years. Score reports must be sent by ETS. Candidate copies are not acceptable. *IELTS scores may be accepted in place of the TOEFL.

International students requiring an F-1 or J-1 visa must submit an Affidavit of Support showing sufficient funds to finance the course of studies and living expenses. 

Do you admit students for the Spring as well as the Fall?

The MBA program at Loyola University New Orleans admits students for both the Fall and Spring semesters each year. Interested applicants are encouraged to apply for the next available semester. No additional fees will be charged to applicants who need to change their intended start term to a later semester.

The MBA program does not typically admit new students for Summer semesters. Students who begin the MBA program during Spring semesters will be eligible to enroll in Summer courses.

When should I apply?

Apply today!

Applicants may begin the MBA application at any time – all application materials do not need to be submitted together. Our Graduate Admissions Counselor works individually with each applicant to ensure that all required materials are received and processed on time.

No additional fees will be charged to applicants who need to change their intended start term to a later semester.

When are the application deadlines?

Domestic Applicants:                                       International Applicants:

Spring – November 30                                      Spring – October 15

Fall – June 30                                                   Fall – May 15

I am applying to be a JD/MBA student. Do I need to complete the MBA application as well?

Yes. To be considered a JD/MBA student at Loyola University New Orleans applicants must apply and be accepted into each program separately. The LSAT cannot be used as a substitute for the GMAT.

Do I have to take the GMAT or GRE?

Yes. An official GMAT or GRE score is a required piece of the MBA application and cannot be waived. The LSAT may not be used in place of the GRE or GMAT.

What if I do not do well the first time I take the GMAT or GRE? Can I submit more than one score?

Applicants are welcome to sit for the GMAT or GRE as many times as necessary to earn a score indicative of personal ability. The MBA admissions committee at Loyola University New Orleans will always consider an applicant’s highest composite GMAT score. Many students find that they must refresh their mathematics skills to scores favorably on the GMAT and prosper in the program. 

Does the committee prefer the GMAT over GRE (or vice versa)? 

No. The MBA admissions committee has no preference of one over the other. We encourage all applicants to take the exam that works best for them. You might find this GMAT vs. GRE comparison document from The Princeton Review beneficial while making your decision. 

Are international students required to take the TOEFL?

International students must submit either a TOEFL or IELTS score report verifying at least an intermediate level of English. Only those international students who obtained a degree from a college or university where English was the language of instruction can potentially waive the TOEFL requirement.

The MBA program requires a TOEFL score of 580 (paper-based), 237 (computer-based), 92 (Internet-based), or higher. Students taking the IELTS must earn a 6.5 or higher.

What are the minimum requirements for admittance into the MBA program?

The MBA Admissions Committee uses several factors to evaluate applicants for admission. In addition to the GMAT or GRE, the committee also considers full-time work experience, undergraduate GPA, recommendations, and a personal statement. Successful applicants exhibit exceptional historical coursework (3.0+), receive strong GMAT or GRE scores, and possess the professional work experience necessary to contribute positively to classroom discussion. We can provide more insight to individual applicants as additional materials are received.

The average GMAT score of current student body is a 528 and average GRE score is 304. The average incoming undergraduate GPA of our current student body is a 3.0. Our students on average have four and a half years of professional work experience.

Is an interview required?

MBA interviews are not required for all applicants. The graduate admissions committee will invite certain MBA applicants for an internew. If you are not invited for an interview, you are more than welcome to request an individual appointment with our Graduate Admissions Counselor or Program Director to learn more about the MBA program and application process.

Will any of my credits transfer?

Incoming students who have graduate level business coursework can transfer up to six credit hours from any AACSB accredited institution. Depending on the coursework, these can transfer for core or elective credit hours. All transfer work will require official trasnscripts; on some occasions, syllabi will be requested. 

Are there any prerequisite courses for the Loyola MBA Program?

Applicants are expected to have basic knowledge of college level Algebra, Finite Math, or Calculus. In addition, it is highly recommended to have taken a basic Accounting, although it is not required. 

 

Back to the top

Do you still have questions? Please ask now: mba@loyno.edu

 

Program

When do MBA classes meet?

Typically, MBA classes are taught Monday through Thursday from 6:20 to 9:35 PM.  Occasionally, we will offer a Friday evening or Saturday morning class. Each class meets one night a week.  Therefore, if you take 9 credit hours (3 classes) during the semester, you will be on campus three nights a week.  Students are considered full-time when they take 6 or more hours (2 clasess) during a semester. Fast-Track students are locked in into 14 credit hours for fall and spring and 12 in summer. 

Do you have an Executive MBA program?

No, the College of Business at Loyola University New Orleans does not offer an Executive MBA program.

Do you offer elective concentrations?

Loyola offers a traditional Master of Business Administration degree with specialization tracks. These tracks serve as concentrations in specific areas. Our four tracks include:

Finance

Entrepreneurship

Marketing

Operations

Students must take all 9 credit hours of required electives in the desired elective track course list to graduate with an elective track. 

Do you offer online courses?

No. Distance learning is not an option for any core or elective courses in the Loyola MBA Program.

How many credits are required to complete the MBA degree?

The MBA program consists of 40 credit hours broken down into 24 hours of Core Courses, 9 hours of Electives, 4 credit hours in Immersion Weeks and our 3 hour Capstone Course. 

 

Back to the top

Do you still have questions? Please ask now: mba@loyno.edu

 

Tuition and Financial Aid

What is the total cost of the MBA program?

Tuition is charged on a per credit-hour basis. Tuition for the 2016-2017 academic school year is $1005 a credit hour. Each semester bill will vary depending on desired courseload per semester. Please see our Tuition/Fees and Financial Aid webpage for a complete breakdown.

Do you offer scholarships?

Yes, the MBA program offers partial merit based scholarships. Each applicant is considered for scholarships and no additional application is necessary. Scholarship consideration consists of an applicant’s GMAT score, work experience, GPA, recommendations, and personal statement.

Should I apply for financial aid?

Yes. Regardless of an applicant’s financial situation, we encourage all applicants to fill out a FAFSA form to be considered for financial aid and financing options.

 

Back to the top 

Do you still have questions? Please ask now: mba@loyno.edu