Lake Forest MBA Frequently Asked Questions
What is the Lake Forest Graduate School of Management?
Lake Forest Graduate School of Management is an independent graduate school of business, solely focused on creating more effective business leaders through business education delivered by our 100% practitioner faculty. As a not-for-profit enterprise, we put your educational interests first.
At Lake Forest, we’re all business – and we have been from the very start. LFGSM was originally founded 60 years ago through a partnership of leading Chicago area businesses. Since that time, our ties to the Chicago area business community have grown even stronger. To this day, providing graduate business education is all we do. If you’re looking for a serious graduate business education, you’ve come to the right place.
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Is Lake Forest Graduate School of Management Affiliated with Lake Forest College?
If you would like to access the web site for Lake Forest College, go here.
Although Lake Forest Graduate School of Management and Lake Forest College are both located in the city of Lake Forest, the Graduate School is not affiliated with the College, nor are our students. All Lake Forest MBA students are working professionals who attend the graduate school part-time, pursuing a graduate business management education.
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Why Should I Choose the Lake Forest MBA Program Over Other Chicago MBA Programs?
At Lake Forest, you will Learn from Experience. Your Lake Forest MBA learning will be immediately applicable to your current workplace challenges, so you can leverage your learning investment right away, without having to wait for graduation.
Here, you will benefit from direct access to our practitioner faculty of industry leaders and successful business professionals, who make important decisions for leading Chicago area companies every day, and who are in touch with current business issues. You won’t interact with inexperienced teaching assistants or research-driven professors with expertise in theory but not in practice. You will learn and understand how business executives become business leaders.
You will be challenged by and partner with experienced professional classmates in small, dynamic classroom settings that stimulate creative problem solving and skill development.
You will experience being treated like a professional, valued customer – rather than like a number or a commodity – by an approachable, collaborative organization solely focused on developing tomorrow’s business leaders.
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Is the Lake Forest MBA Program Accredited?
Yes; Lake Forest Graduate School of Management is:
Accredited by The Higher Learning Commission
and a member of the North Central Association
30 North LaSalle Street, Suite 2400
Chicago, Illinois 60602-2504
Phone: 312.263.0456
Fax: 312.263.7462
Lake Forest Graduate School of Management is authorized to grant Master's degrees by the Illinois Board of Higher Education.
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Does Lake Forest Have More Than One Campus?
Yes; complete degree programs are available at LFGSM’s three convenient campuses – downtown Chicago, Schaumburg, and Lake Forest – and on-site at select corporate locations in the Chicago area.
Lake Forest MBA on-site programs feature the same MBA practitioner faculty, courses, and curriculum as our on-campus programs. Through our educational partnerships, area companies provide their employees access to a Lake Forest MBA education at their convenient workplace location.
For details on Lake Forest MBA on-site programs, go here.
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What is Lake Forest's Tuition?
Lake Forest's tuition for the 2008 - 2009 academic year is $2,700 per full course unit, excluding International Specialization courses, International study elective courses, and alternative delivery elective courses, all of which require additional fees.
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How Much Business Experience Do Lake Forest MBA Faculty Members Have?
The Lake Forest MBA program has a 100% practitioner faculty of industry leaders and successful business executives. Faculty members are generally from the ranks of senior management and average 28 years of professional experience. Lake Forest faculty members hold advanced degrees and have extensive practical experience in the subject areas they teach.
As business professionals, our faculty members have exceptional backgrounds, and are uniquely qualified to bring you relevant, compelling course content. Lake Forest MBA faculty members represent a wide variety of organizations, industries, and functions, and have a wide range of job titles such as Partner, Vice President, Director, Consultant, and CEO. They have in common a strong desire to share their knowledge, facilitate learning, and help students achieve measurable success. But most of all they’re here because they love to teach.
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What Kind of Professional Experience Do Lake Forest MBA Students Have?
At Lake Forest , our students have been busy – working hard, building successful careers, starting families – creating their lives. Now, like you, they’re ready to accelerate their careers with a contemporary, practical business education.
All of our students are working professionals who average 13 years of experience. And their diversity might surprise you. They are IT professionals, entrepreneurs, financial analysts, engineers, managers, and scientists – to name just a few – from a wide variety of industries, businesses, and backgrounds. They all come to class ready and willing to share their practical experience, past successes, and current workplace challenges.
At Lake Forest, our intentionally collaborative approach to management education enables the diversity of student experiences, perspectives, and skills to become a resource for you both throughout the MBA program and in your career.
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Does Lake Forest Graduate School of Management Offer an Executive MBA Program?
Lake Forest Graduate School of Management has been in the business of teaching business education since 1946.
While we don’t offer an Executive MBA Program, the Lake Forest MBA is designed around the executive MBA model. We are a member of the Executive MBA Council and annually benchmark our curriculum to their guidelines.
Executive MBA programs are designed for working professionals who wish to receive a fully accredited MBA within two years while maintaining full-time employment. At LFGSM, we offer you the flexibility to complete your MBA in two years or take as long as four years to complete the program.
Students also have the flexibility to attend classes on week nights or on Saturdays, and many earn their Lake Forest MBA right where they work through our corporate on-site MBA programs.
Our
curriculum is grounded in extensive research into what executives look for in high-potential managers today. Students go through the program as cohorts, allowing them to develop their executive decision making skills together in a supportive environment.
They learn to communicate, negotiate and work with people at all levels, gaining the confidence and competence needed to deliver results.
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Who Can Apply to the Lake Forest MBA Program?
To be eligible for admission into the Lake Forest MBA program, you must meet the following requirements:
- Four or more years of professional work experience
- A United States bachelor’s degree from a regionally accredited institution or equivalent
- Currently employed full-time [we do not issue foreign study Visas]
- Primary residence in the Chicago metro area
Please note: regardless of your undergraduate degree, no prerequisite courses are required for admission into the Lake Forest MBA program.
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What Are the Application Requirements for the Lake Forest MBA Program?
For comprehensive information regarding Lake Forest MBA Admissions, go here. To complete your application file, we will need from you all of the following:
- An interview with an admissions counselor at the campus you wish to attend
- Your current résumé
- A signed transcript request form for each educational institution you attended. You will receive and complete these forms at your admissions interview. As a convenience to all of our applicants, our admissions office submits the completed forms, pays any associated fees, and arranges for direct receipt of transcripts.
- A completed admissions application with personal statement
- Two letters of recommendation
- A standardized test score or waiver
You may apply online, or with the application enclosed in our MBA Program catalog.
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How Can I Get More Information by Mail?
To receive a Lake Forest MBA information pak via U.S. Mail, go here.
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How Do I Contact Lake Forest MBA Admissions?
To contact the Lake Forest MBA admissions office of the campus you wish to attend, go here.
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What is the Average Lake Forest MBA Class Size?
The average Lake Forest MBA class size is 22 students. Whenever possible, we try to limit our class sizes to 30 or fewer students to optimize our MBA LFGSM experience.
At Lake Forest, we recognize the value that organizations place on managers who work well on cross-functional and ad hoc teams, so our program emphasizes both individual achievement and significant teamwork, cultivated through team projects and study groups.
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What is the Lake Forest MBA Program Length?
You can complete your Lake Forest MBA in as little as 22 months, or choose to take up to 46 months.
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How Many Terms Does the Lake Forest MBA Program Have?
Lake Forest has four 10-week academic terms each year, and an optional 5-week summer session.
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What Are the Days and Times of Lake Forest's MBA Classes?
Downtown Chicago Campus
Courses are offered Monday – Thursday, from 5:30 PM – 9:00 PM.
Schaumburg and Lake Forest Campuses
Courses are offered Monday – Thursday, from 6:30 PM – 10:00 PM, and
Saturdays, from 8:00 AM – 11:30AM and 12:30 PM – 4:00 PM.
On-Site Programs
For details on Lake Forest MBA on-site programs, go here.
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How Can I Finance My Lake Forest MBA?
If your employer offers it, a very helpful financial option is Employer Tuition Reimbursement. Other available options include scholarships, loans, and veterans benefits. For complete details on financing your Lake Forest MBA, go here.
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