Though taking online classes comes with some great benefits, you may find that a Master’s of Finance program has a residency requirement. This type of program requires that you spend a portion of your time actually studying, taking classes and interacting with other students in the program on campus. Some schools require that you spend a weekend or more on campus before you graduate, but there are a number of things you should know about this type of requirement.
Resource: Top 10 Most Affordable Online Master of Finance Degree Programs
What Does This Requirement Entail?
Every school that has this type of requirement in place has different rules regarding how long it lasts and what you do while living on campus. Some schools may ask that students spend just one weekend on campus, while other schools ask that you spend at least one weekend on campus every semester. Others require that you come to the campus for a week before starting the program or that you live there for several weeks during the later part of your studies. You should always ask how long you need to live there, how often you must visit campus and about any other requirements, especially if you live in a different city or state.
Why Live on Campus?
You might think that living on campus defeats the purpose of studying online, but it does come with some benefits. Kelsey Sheehy of U.S. News and World Report found that living on campus may help you establish residency in that state. If the school charges separate rates for students who live in and out of state, you may get a break on future tuition costs. Living on campus for even a few days can help you form connections with the other students in your classes and even establish professional relationships with your professors too.
Do All Schools Have This Requirement?
A Master’s of Finance program is an advanced graduate program designed for students who possess a bachelor’s degree in business or a similar field. Many of the programs that take place over the Internet have students enrolled who already have jobs in the business world but want access to higher paying jobs. Though some schools do have a requirement that you live on campus and/or attend classes on campus as part of your studies, not all do. You can find out before you enroll whether the university requires that you visit the campus one or more times as you work on your degree.
What Does It Include?
If you settle on a grad school that has a requirement of this type, you must take the time to find out how much it costs and what it includes. While some colleges factor in the cost with the tuition you pay, others will make you pay extra. You may have the chance to live in an actual dormitory on campus, or you may find that you need to stay in a local hotel and commute to campus. You’ll also want to find out whether the cost includes textbooks, supplies and meals.
The finance field changed significantly over the last few decades, and going to grad school lets you learn more about finance, accounting and even marketing. When applying to an online Master’s of Finance program, ask if the school has any type of residency component that requires you live on campus.
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