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Choose a Supply Chain Management Program to Boost Career Prospects

By U.S. News & World Report

For Tanner Ryan, pursuing a master’s degree in supply chain management was a no-brainer.

He grew up watching his dad work in logistics — a field similar to supply chain management — and Ryan studied supply chain management and data analytics as an undergrad at the University of Colorado–Boulder.

“I knew I wanted more schooling in it. I knew I wanted to dive deeper,” says Ryan. He completed his master’s degree at the university’s Leeds School of Business immediately after college. He now works as a logistics process analyst for Shell Oil Co.

People like Ryan, who have a strong interest and expertise in supply chain management, are a hot commodity in the business community. Among employers who responded to a survey by the Graduate Management Admission Council, 27 percent are actively seeking graduates from supply chain management master’s programs, according to the council’s June report.

[Know these three things about an MBA in supply chain management.]

Many business schools offer master’s degrees in supply chain management, giving prospective students a range of options. In these programs students learn about managing and distributing products, as well as sustainability. Because schools vary when it comes to how they teach, business school applicants should consider three factors when deciding which program to attend, experts say.

1. Format: Several schools offer this degree online, but a Web-only approach may not always be the ideal choice.

“The best option is to have sort of the blended program where you have online and on-site elements,” says David Closs, chairperson of the department of supply chain management at the Michigan State University Broad Graduate School of Management. “You don’t get the same level of networking and interaction and learning on the online environment.”

At Broad, students receive much of their education online, but meet in person four times for three days during the course of their entire program, which lasts for 24 months. In face-to-face meet-ups, they may work on case studies or projects, Closs says.

Other schools, such as Leeds, offer a more traditional classroom-based learning environment. Broad, however, targets working professionals who need more flexible schedules and have less time for campus visits.

“If people have a full-time job and a family and obligations, that option is not typically available to them,” says Closs.

[Compare top online and on-ground MBA programs through data.]

2. Work experience: At Broad, most students enter the master’s program with eight to 10 years of work experience on average in supply chain management, and continue to work while getting their degree.

At Leeds, however, students can enter the program straight out of undergrad. The school makes getting students real-world experience a core part of the curriculum.

To complement classroom learning, students complete an internship during the spring semester of the yearlong program.

“It’s for credit and for pay,” says Gregg Macaluso, faculty director for the master’s programs in supply chain management and business analytics at Leeds.

[Decide between an MBA and an M.S. at business school.]

3. Degree options: Graduate-level supply chain programs are usually offered in two formats — an MBA that allows students to specialize in the subject or a master’s degree exclusively focused on supply chain management.

At New York University’s Stern School of Business, for example, MBA students can choose supply chain management as their concentration.

When learning about supply chain management as part of the leadership-oriented MBA degree, students may also gain knowledge in areas of business that can compliment their supply chain studies, says Natalia Levina, one of the academic advisers for the supply chain management and global sourcing specialization in Stern’s MBA program.

Most MBA programs teach accounting, finance, marketing and other core areas of business.

“You get the breadth and the depth,” she says.

Searching for a business school? Get our complete rankings of Best Business Schools.

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Choose a Supply Chain Management Program to Boost Career Prospects originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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